Rains help spot rubber prices gain

Print this page Posted on : 10-30-2007 by recycleinme.com

The rubber prices firmed up accumulating strength from intensified rains during the past 48 hours and another bullish closing in global futures. RSS 4 improved to Rs.99 a kg from Rs.97.50 and Rs.98 a kg respectively at Kottayam and Kochi as covering groups turned active on the grade. The market made all round gains on short covering coupled with fresh buying.

FUTURES IMPROVE

The rubber futures stayed in tune with the mood of the day on NMCE. The November contract downed the shutters at Rs.100.95 (98.54), December at Rs.101.41 (98.76), January at Rs.101.50 (99.05) and February contract at Rs.102.60 (100.22) per kg for RSS 4. The volumes were 2,134 (449) lots. The November contract concluded at Rs.100.90 (98.32) a kg trading 90 lots on MCX.

Spot prices were (Rs./kg) : RSS-4: 99 (97.50); RSS-5: 96 (95); ungraded : 94(92.50); ISNR 20: 94.50 (93.50 )and latex 60 per cent : 63.50 (63.50).

Source : Business Line