Spot Rubber rules steady

Print this page Posted on : 10-09-2007 by recycleinme.com

Spot rubber was steady on Monday. Tapping resumed in almost all plantations taking advantage of the favourable turn in weather but the market sustained at current levels following reports on rains over the southern regions of the State.

Sheet rubber RSS 4 closed static at Rs.89 a kg at Kottayam, while the grade improved by 50 paise to Rs.89.50 a kg at Kochi moving more closely to the bullish mood in the domestic futures.

FUTURES BETTER

The rubber futures showed a better trend trading the November contract at Rs.87.59 (86.70) a kg on MCX. The October contract for RSS 4 improved sharply by the initial daily limit of 2 per cent to Rs.91.60(89.80) a kg on supply concerns, while the November contract moved up to Rs.87.95 (86.63), December to Rs.88 (86.63), December to Rs.88 (86.60) and January to Rs.88.99 (87.71) per kg on NMCE. Spot prices were (Rs/kg) : RSS-4: 89(89); RSS-5: 87(87); ungraded : 85(85); ISNR 20: 86(86) and latex 60 per cent : 62.10 (62.10).

Source : Business Line