Spot rubber up on global cues

Print this page Posted on : 07-31-2007 by recycleinme.com

Spot rubber prices ruled firm on Monday. Major grades improved taking support from a better closing in overseas markets and corresponding bullishness in domestic futures. Supply to main marketing centres continued to be thin. Sheet rubber RSS 4 closed at Rs.85.50 and Rs.86 a kg respectively at Kottayam and Kochi against Rs.85 a kg on the previous weekend.

According to observers certain tyre companies were buyers for the grade up to Rs.85 a kg. The overall mood was mixed.

FUTURES BETTER

In futures, the August contract for RSS 4 finished at Rs.85.20 (83/64) a kg on MCX, while the prices were further better quoting the August contract at Rs.87.02 (85.14) a kg on National Multi Commodity Exchange,

The September contract for the grade improved to Rs.83.83 (82/91), October to Rs.82.60 (82/06) and November contract to Rs.81.90 (81.52) a kg on NMCE.

RSS 3 bounced back at its August futures to 259.9 Yen (Rs.88.52) a kg from 254.6 Yen a kg at TOCOM. Spot prices were (Rs/kg): RSS-4 : 85.50 (85); RSS-5: 84(83); ungraded: 81 (81); ISNR 20: 83.50 (83) and latex 60 per cent: 59.45 (59.45).

Source : Business Line