Mixed trend in spot rubber

Print this page Posted on : 11-06-2007 by recycleinme.com

Spot rubber showed a mixed mood on Monday. RSS 4 hgit the Rs.100-mark in the morning session as the international indices firmed up catalysed by a better trend in oil and gold futures. But the grade failed to hold on the gains completely lacking follow up support and closed at Rs.99.50 a kg both at Kottayam and Kochi against Rs.99 on the previous weekend. According to sources all –round declines in domestic futures took the steam out of the market and the volumes were dull.

FUTURES WEAK

The rubber futures finished weak possibly on profit booking at higher levels. The November contract declined to Rs.99.51 (00.60) a kg on MCX. On NMCE, the November contract moved down to Rs.99.25 (100/53), December to Rs.99.60 (101.44), January to Rs.100.40 (102.51) and February contract to Rs.101.63 (103.61) per kg for RSS4. Spot prices were (Rs./kg): RSS-4: 99/50 (9); RSS-5: 96.50 (96); ungraded : 94(94); ISNR 20: 94.50 (94.50) and latex 60 per cent: 64 (64).

Source : Business Line