Spot rubber rules firm

Print this page Posted on : 11-18-2009 by recycleinme.com

Aravindan

Kottayam, Nov. 17

Physical rubber prices were steady on Tuesday. The market lost its direction as there was no follow-up buying from the major manufacturers during the second trading day of the week.

A weak closing in the domestic futures and uninspiring reports from international markets kept the sentiments almost neutral. Sheet rubber closed flat at Rs 111.50 a kg amidst comparatively dull volumes.

Futures weaken

The December futures weakened to Rs 113.30 (Rs 113.98), January to Rs 115.51 (Rs 116.21), February to Rs 117.37 (Rs 117.88) and March to Rs 119.01 (Rs 119.84) a kg for RSS 4 on National Multi Commodity Exchange.

RSS 3 slipped further to Rs 118.10 (Rs 118.45) a kg on Singapore Commodity Exchange. The grade improved to Rs. 117.66 (Rs 117.35) a kg at Bangkok.

The November futures for RSS 3 closed at ¥234.3 (¥234.9) (Rs.121.65) and December at ¥236.1 (¥235.5.

The December futures moved down to ¥235, January to ¥233, February to ¥233.9, March to ¥235.5 and April to ¥237 per kg while the November futures remained inactive during the night session.

Spot prices (Rs a kg) were: RSS-4: 111.50 (111.50); RSS-5: 106.50 (106.50); Ungraded: 103 (103); ISNR 20: 104 (104); and Latex 60%: 70 (70).

Source : Business Line