Spot rubber rules firm

Print this page Posted on : 09-30-2009 by recycleinme.com

Kottayam, Sept. 29

Spot rubber finished firm on Tuesday. The prices improved as sellers stayed back letting the market to recover in tune with the domestic sentiments after the long holidays. Sheet rubber moved up to Rs 108 from Rs 106 a kg on covering purchases. There were no fresh enquiries from the tyre sector. Meanwhile latex 60 per cent declined sharply on low demand. The volumes were dull.

Futures steady

The October futures closed at Rs 107.31 (107.24), November at Rs 108.25 (108.39), December at Rs 109.85 (109.69) and January at Rs 111.50 (111.36) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 improved at its October futures to ¥187.9 (¥186) (Rs 100.40), November to ¥190.2 (¥187.5), December to ¥192.1 (¥189.4), January to ¥192.7 (¥190), February to ¥194.8 (¥192.1) and March to ¥197.2 (¥194.4) during the day session on Tokyo Commodity Exchange (TOCOM). The December futures closed at ¥193, January at ¥194, February at ¥196 and March at ¥198.4 a kg while the October and November contracts remained inactive during the night session. RSS 3 moved up to Rs 102.02 (101.68) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) weakened to Rs 102.96 (103.74) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 108 (106); RSS-5: 103 (101.50); ungraded: 99 (97.50); ISNR 20: 96.50 (95.50) and latex 60 per cent: 61 (65).

Source : Business Line