Spot rubber rules flat

Print this page Posted on : 10-26-2007 by recycleinme.com

The physical rubber prices finished almost steady in the absence of follow up buying on Thursday. The end of the five-day long lorry strike failed to make any positive impact over the market as expected and sheet rubber closed unchanged at Rs.97.50 and Rs.98 a kg respectively at Kottayam and Kochi. The trend was mixed as ungraded rubber and ISNR 20 weakened marginally on scattered trading. The transactions were meager.

FUTURES DECLINE

The rubber futures lost ground lacking domestic and international support on NMCE. The November contract moved down to Rs.97.30 (98.98), December to Rs.97.63 (99.85), January to Rs.97.75 (100.01) and February to Rs.98.81 (101 per kg for RSS 4. RSS 4 moved down at its November futures to Rs.97.38 from Rs.98.10 a kg on MCX. RSS 3 was almost steady at Rs.95.59 against Rs.95.55 a kg at Bangkok.

Spot prices were (Rs./kg): RSS-4: 97.50 (97.50); RSS-5: 95.50 (95.50); ungraded : ,93(93.50); ISNR 20: 93.50(93.75) and latex 60 per cent L 63.50 (63.50).

Source : Business Line