Spot rubber gains on global trend

Print this page Posted on : 09-06-2007 by recycleinme.com

Rubber prices improved on Wednesday. Intensified rains and a better closing in global indices supported the domestic markets to remain in the positive zone. In spot, RSS4 was firm at Rs.88.5- against Rs.88 a kg at Kottayam and Kochi mostly on covering purchases. Volumes remained dull as the inflow to the main marketing centers has been poor. The trend was mixed.

FUTURES RECOVER

The rubber futures recovered partially from the previous day’s losses on NMCE. The September contract improved to Rs.88.75 (87.29), October to Rs.83.90 (82.88), November to Rs.81.90 (80.89) and December to Rs.81.48 (80.43) per kg for RSS 4. The September contract finished better at Rs.87.30 (85.78) a kg on MCX.

RSS 3 improved at its October futures to 251.2 Yen (Rs. 88.76) a kg from 249.5 Yen a kg at TOCOM. The grade (spot) improved to Rs.88.03 (87.74) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 88.50 ()88); RSS-5: 86.50 (86.50); ungraded : 83 (82.50); ISNR 20: 85.50 (85) and latex 60 per cent 62.60 (62.60).

Source : Business Line