Spot rubber gains on global cues

Print this page Posted on : 09-04-2007 by recycleinme.com

Spot rubber showed a better trend on Monday. Prices picked up under the influence of bullish global indices discounting the negative sentiments and news which hammered the market during the last few sessions. RSS 4 moved up to Rs.88.50 and Rs.89.50 a kg from Rs.87.50 and Rs.88 a kg respectively at Kottayam and Kochi. The grade was traded at Rs.89.50 a kg during morning trade also at Kottayam. Supplies were meager as lingering rains dampened the production process even after Onam, sources said.

FUTURES MIXED

The rubber futures was a mixed mood on NMCE. The September contract downed the shuttered at Rs.89.70 (89.24), October at Rs.83.70 (83.68), November at Rs.81.86 (81.90) and December at Rs.81 (81.25) per kg for RSS 4. The volumes were 2,027 (1,024) tonnes. The September contract improved to Rs.88.12 from Rs.87.82 a kg on MCX. Spot prices were (Rs./kg): RSS-4: 88.50 (87.50); RSS-5: 86.50 (85); ungraded : 83.50 (82.50); ISNR 20: 86.25 (84.50) and latex 60 per cent : 62.10 (61.05)

Source : Business Line