Mixed trend in spot rubber prices

Print this page Posted on : 10-16-2009 by recycleinme.com

Aravindan Kottayam, Oct. 15 Physical rubber prices witnessed a mixed trend on Thursday. The market activities were in a dull phase as the domestic futures showed a weak trend and most of the grades finished unchanged lacking follow up buying from traders. Sheet rubber closed flat at Rs 108.50 a kg amidst scattered transactions. There were no quantity sellers in the main marketing centres and major manufacturers stayed back expecting the prices to slip on buyer resistance. FUTURES WEAK RSS 4 weakened at its October futures to Rs 107.79 ( 108.25), November to Rs 108.87 ( 109.51), December to Rs 110.40 ( 111.37) and January to Rs 112.04 ( 113.15) a kg on National Multi Commodity Exchange ( NMCE). The October futures improved marginally to ¥ 217.6 ( ¥ 216) ( Rs 111.32) while the November futures weakened to ¥ 216.1 ( ¥ 219.6) and December to ¥ 215 ( ¥ 219.2 a kg for RSS 3 during the day session on Tokyo Commodity Exchange ( TOCOM). The October futures closed at ¥ 216, November at ¥ 215, December at ¥ 212, January at ¥ 211.7, February at ¥ 211.8 and March at ¥ 211.6 a kg during the night session. RSS 3 slipped to Rs 111.05 ( 111.22) a kg on Singapore Commodity Exchange ( SICOM). The grade ( spot) moved down to Rs 109.79 ( 110.89) a kg at Bangkok. Spot rates were ( Rs/ kg): RSS- 4: 108.50 ( 108.50); RSS- 5: 104 ( 104); ungraded: 100.50 ( 100); ISNR 20: 97 ( 96.50) and latex 60 per cent: 71 ( 71).

Source : Business Line