Spot rubber rules firm

Print this page Posted on : 08-26-2009 by recycleinme.com

Physical rubber prices closed unchanged on Tuesday. The market opened weak and improved on late trades but failed to react in tune with the gains on NMCE as covering groups stayed away in the absence of quantity buyers from the tyre sector. Sheet rubber ended flat at Rs 103 a kg amidst scattered transactions. Meanwhile, latex 60 per cent, the only loser of the day, slipped by 50 paise on buyer resistance.

Futures improve

RSS 4 improved with September futures rising to Rs 104.64 (103.91); October to Rs 105.89 (104.84); November to Rs 106.75 (104.95) and December to Rs 107.69 (106.13) a kg on National Multi Commodity Exchange (NMCE). The August futures for RSS 3 expired at ?197.2 (?195.4) (Rs 102.22) a kg, while September futures weakened to ?190.9 (?194), October to ?193.8 (?196.8), November to ?196.7 (?199.6), December to ?199 (?202.2) and January to ?201.5 (?204.8) a kg during the day session on TOCOM. The September futures firmed up to ?194, October to ?195.5, November to ?198, December to ?201 and January to ?203.7 a kg during the night session. RSS 3 slipped to Rs 101.12 (101.52) a kg on Singapore Commodity Exchange (SICOM). The grade closed weak at Rs 100.58 (100.99) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 103 (103); RSS-5: 101 (101); ungraded: 99 (99); ISNR 20: 95 (95) and latex 60 per cent: 76 (76.50).

Source : Business Line