Rumours keep spot rubber prices firm
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Domestic rubber prices continued to rule firm on Wednesday, catalysed by rumours on low stocks in warehouses. The market activities were led mainly by speculators trying to push up prices to the desired levels to book profits. Firm international indices added further strength to the bull run.
In spot, sheet rubber moved up to Rs.91 a kg from Rs.90 and Rs.90.50 a kg respectively at Kottaayam and Kochi. The trend was mixed.
The rubber futures finished green except in October which weakened to Rs.9.250 (92.81) towards close on NMCE while the November contract flared up to Rs.88.90 (87.78), December to Rs.88.89 (87.80) and January to Rs.89.50 (88.78) per kg for RSS 4. Meanwhile, the October contract improved to Rs.92.50 from Rs.90.69 a kg on MCX. Spot prices were (Rs./kg): RSS-4: 91 (90); RSS-5: 88.50 (88); ungraded : 86.50 (86); ISNR 20: 87 (87) and latex 60 per cent : 62.60 (62.60).
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Source : Business Line |
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