Spot rubber prices improve

Print this page Posted on : 08-25-2009 by recycleinme.com

Kottayam, Aug. 24

The rubber prices improved on Monday. In spot, the market gained in tune with the domestic and international rubber futures. Sheet rubber finished firm at Rs.103.00 (102.00) a kg on covering purchases.

"We expect the major manufacturers to re-enter the market as the international prices are too close to the domestic rates and imports are not viable at these levels", an observer said.

Futures rise

The September futures for RSS 4 improved to Rs 103.90 (Rs 103.68), October to Rs 104.70 (Rs 104.00), November to Rs 104.81 (Rs 103.93) and December to Rs 106.18 (Rs 105.12) a kg on National Multi Commodity Exchange (NMCE).

RSS 3 flared up at its August futures to ?195.4 (190.2) (Rs 100.24), September to ?194.0 (183.7), October to ?196.8 (186.4), November to ?199.6 (188.9), December to ?202.2 (191.3) and January to ?204.8 (194.0) a kg during the day session on TOCOM.

The August futures for the grade concluded at ?196.2 (Rs 100.66), September at ?195.0, October at ?196.2, November at ?198.2, December at ?200.5 and January at ?203.1 a kg during the night session.

RSS 3 improved to Rs 101.52 (99.63) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) closed at Rs. 100.99 (100.25) a kg at Bangkok.

The physical rubber rates in Rs/kg were: RSS-4: 103.00 (102.00); RSS-5: 101.00 (100.50); Ungraded: 99.00 (98.00); ISNR 20: 95.00 (94.50) and Latex 60%: 76.50 (75.00).

Source : Business Line