Mixed trend in rubber

Print this page Posted on : 10-06-2009 by recycleinme.com

Kottayam, Oct. 5

Spot rubber witnessed a mixed trend on Monday. A weak closing in domestic rubber futures kept the sentiments under pressure and sheet rubber moved down to Rs 107 from Rs 107.50 a kg on buyer resistance. There were neither any fresh enquiries from the major consuming industries nor any selling pressure from dealers or growers.

The market moved amidst scattered transactions as most of the traders preferred to wait and watch and the volumes were extremely dull. Meanwhile, latex 60 per cent improved sharply on better demand.

Futures decline

RSS4 declined at its October futures to Rs 105.67 (107.83), November to Rs 105.80 (108.90), December to Rs 107.27 (110.44) and January to Rs 108.75 (112.08) a kg on National Multi Commodity Exchange (NMCE).

The October futures for RSS 3 closed at ?197.3 (?196) (Rs 104.33), November at ?198.3 (?197.6), December at ?199 (?198.1), January at ?198.5 (?198.7), February at ?199 (?198.8) and March at ?200.4 (?200.8) during the day session on Tokyo Commodity Exchange (TOCOM).

The grade closed at its October futures at ?197, November at ?199, December at ?199, January at ?198.2, February at ?199 and March at ?200.3 a kg during the night session.

RSS 3 closed unchanged at Rs 105.48 a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4:107 (107.50); RSS-5: 102.50 (102.50); ungraded: 97.50 (98); ISNR 20: 96 (96) and latex 60 per cent: 66.50 (61).

Source : Business Line