Spot rubber improves

Print this page Posted on : 09-29-2007 by recycleinme.com

Physical rubber prices improved reflecting the overall market mood on Friday. RSS 4 closed at Rs.90 against Rs.89 and Rs.89.50 a kg respectively at Kottayam and Kochi. “It might take another couple or more weeks for the arrivals to improve reacting to a positive turnaround in climatic conditions and we expect the scarcity of the raw material to continue keeping the rates firm until then,” a trader said. It would be much earlier to sell, the stocks in panic when the market is suffering from short supply. There were moderate rains all over the plantations during Thursday night.

FUTURES FIRM

The rubber futures resumed the firm trend quoting the October contract at Rs.89.57 (89.58)a kg on MCX. The October futures on NMCE moved up to Rs.90.42 (89.57), November to Rs.86.94 (86.46), December to Rs.86.79 (86.26) and January to Rs.87.55 (87.25) per kg for RSS 4. Sport pr ices were (Rs./kg): RSS-4: 90(89); RSS-5: 87.50(87); ungraded : 85(84); ISNR 20: 86.50(86) and latex 60 per cent : 62.10 (62.10).

Source : Business Line