Spot rubber prices rule steady

Print this page Posted on : 10-07-2009 by recycleinme.com

Kottayam, Oct. 6

Physical rubber prices finished unchanged on Tuesday. According to sources, the weakness in domestic futures on early trades kept the market under pressure during the morning session but it failed to regain strength in tune with the late gains on NMCE.

Sheet rubber closed flat at Rs 107 a kg amidst scattered transactions. Certain major manufacturers were reported to be buyers on the grade even much below the prevailing levels and the volumes were comparatively low.

Futures firm

The October futures firmed up to Rs 106.98 (105.90), November to Rs 106.90 (106.11), December to Rs 108.22 (107.35) and January to Rs 109.90 (109.05) a kg for RSS 4 on National Multi Commodity Exchange (NMCE).

RSS 3 improved marginally at its October futures to ?197.4 (?197.3) (Rs 104.18), November to ?198.9 (?198.3), December to ?200.2 (?199), January to ?199.9 (?198.5), February to ?200.1 (?199) and March to ?200.7 (?200.4) during the day session on Tokyo Commodity Exchange (TOCOM). The December futures moved up further to ?202, January to ?202.7, February to ?202 and March to ?202.5 a kg while the October and November futures remained inactive during the night session.

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

Source : Business Line