Spot rubber improves further

Print this page Posted on : 03-13-2010 by recycleinme.com

Kottayam, March 12

Spot rubber prices continued to explore new highs on Friday. The market moved up catalysed by the smart gains in domestic rubber futures while supply concerns kept the buyers on their toes during the day. Sheet rubber improved to Rs 148 from Rs 146 a kg on fresh buying and short covering. The transactions were meagre.

The March futures for RSS 4 flared up to Rs 149.15 (146.11), April to Rs 152.51 (150.80), May to Rs 156.33 (154.70) and June to Rs 158.80 (157.77) a kg on National Multi Commodity Exchange (NMCE). RSS 3 March futures improved to ¥296.2 (¥293) (Rs 148.88), April to ¥294.2 (¥291.9), May to ¥293.7 (¥292.9) and June to ¥292.6 (¥291.6) while the July futures slipped to ¥290.7 (¥291.1) and August to ¥289.6 (¥291) a kg during the day session on Tokyo Commodity Exchange. RSS 3 firmed up to Rs 149.69 (148.59) a kg on Singapore Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 148 (146); RSS-5: 146.50 (144); ungraded: 145 (143); ISNR 20: 145.00 (142.50) and latex 60 per cent: 95 (95).

Source : Business Line