Spot rubber improves on covering purchases

Print this page Posted on : 10-15-2009 by recycleinme.com

Kottayam, Oct. 14 Spot rubber continued to post moderate gains on Wednesday. According to sources the market improved mainly on covering purchases. It was also rumoured that the major consuming industries were active in the main marketing centres but they preferred to keep a low profile. Sheet rubber moved up to Rs 108.50 from Rs 107.50 a kg and the market made all-round gains with comparatively better volumes. Futures firm The October futures for RSS 4 firmed up to Rs 108.48 (107.73), November to Rs 109.50 (109.12), December to Rs 111.42 (111.05) and January to Rs 113.19 (112.54) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved at its October futures to ¥216 (¥215) (Rs 111.59), November to ¥219.6 (¥216.4), December to ¥219.2 (¥218.7), January to ¥218 (¥217.8), February to ¥217.5 (¥217) and March to ¥217.9 (¥217.4) a kg during the day session on Tokyo Commodity Exchange (TOCOM). The November futures concluded at ¥220.8, December at ¥218.4, January at ¥216.6, February at ¥216.2 and March at ¥216.3 a kg while the October futures remained inactive during the night session. RSS 3 slipped to Rs 111.22 (111.62) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) firmed up further to Rs 110.89 (110.41) a kg at Bangkok. Spot rates were (Rs/kg): RSS-4: 108.50 (107.50); RSS-5: 104 (102.25); ungraded: 100 (98); ISNR 20: 96.50 (96) and latex 60 per cent: 71 (69).

Source : Business Line