Mixed trend in spot rubber

Print this page Posted on : 11-03-2009 by recycleinme.com

Kottayam, Nov. 2

Physical rubber prices witnessed a mixed trend on Monday. The undercurrent appeared weak following the sharp declines in the Japanese markets. Sheet rubber slipped to Rs 109.50 from Rs 110 a kg on buyer resistance.

Meanwhile, ungraded rubber improved marginally on better demand. The transactions were low. The domestic rubber futures on National Multi Commodity Exchange (NMCE) remained closed owing to Gurunanak Jayanti.

Futures decline

RSS 3 declined with the November futures dropping to ¥227.6 (¥234) (Rs 118.74), December to ¥226.5 (¥233.8), January to ¥224.6 (¥231.6), February to ¥224.2 (¥230.6), March to ¥223.1 (¥230) and April to ¥224.3 (¥231.3) a kg during the day session on Tokyo Commodity Exchange (TOCOM). The November futures closed at ¥224.1, December at ¥227.2, January at ¥227.7, February at ¥225.6, March at ¥225 and April at ¥226 a kg during the night session.

Spot rates were (Rs/kg): RSS-4: 109.50 (110); RSS-5: 105 (105); ungraded: 101 (100); ISNR 20: 99.50 (99.50) and latex 60 per cent: 73 (73).

Source : Business Line