Spot rubber rules steady

Print this page Posted on : 09-26-2009 by recycleinme.com

Kottayam, Sept. 25 Spot rubber was steady on Friday. The market lost its direction lacking active participants either side to set the trend. Sheet rubber closed unchanged at Rs106 a kg amidst extremely dull volumes. There were no fresh enquiries from major consuming industries. Futures improve Futures improved with RSS 4 October futures rising to Rs106.97 (106.21), November to Rs 108.13 (107.15), December to Rs109.46 (108.46) and January to Rs111.10 (110.27) a kg on National Multi Commodity Exchange (NMCE). The October futures for RSS 3 slipped to ?186.6 (?188.5) (Rs 99.31), November to ?189.6 (?190.3), December to ?192.0 (?192.3), January to ?193.5 (?194.9) and February to ?195.5 (?197.3) a kg, while the March contract ended at ?197.6 Yen during the day session on Tokyo Commodity Exchange (TOCOM). The November futures closed at ?192.4, December at ?194.0, January at ?195.5, February at ?197.2 and March at ?199.2 a kg while the October futures remained inactive during the night session. RSS 3 fell sharply to Rs 102.75 (102.36) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) weakened further to Rs103.74 (105.17) a kg at Bangkok. Spot rubber rates (Rs/kg) were: RSS-4: 106 (106), RSS-5: 101.50 (101.50), Ungraded: 97.50 (97.50), ISNR 20: 95.50 (95.50) and Latex 60 per cent: 65 (65).

Source : Business Line