Spot rubber improves on global cues

Print this page Posted on : 11-27-2007 by recycleinme.com

The international rubber remained firm reacting to the bull run in crude oil which flared up to $98.69 a barrel creating yet another intermediate high on Monday. The December futures for RSS 3 recovered to ¥ 265 (Rs.97.15) from ¥ 262.5 a kg at TOCOM. The grade’s spot improved by 81 paise to Rs.97.04 a kg at Bangkok.

Sheet rubber moved up in tandem with the domestic and international futures. RSS 4 closed firm at Rs.94.50 against Rs.93.50 a kg both at Kottayam and Kochi as sellers stayed back hopefully for better quotes. RSS 5 was down by 50 paise on low demand, while the volumes were dull amidst a mixed trend.

FUTURES FIRM

The December contract finished firm at Rs.95.80 against Rs.94.00 a kg on MCX. On NMCE, the December contract moved up to Rs.96.71 (94.48), January to Rs.98.25 (96.45), February to Rs.99.55 (97.78) and March contract to 101.80 (99.51) per kg for RSS 4. The volumes totalled 1,654 (533) tonnes.

Spot prices were (Rs.a kg) : RSS-4: 94.50(93.50), RSS-5: 90.00 (90.50); ungraded : 85.00(84.50) ISNR 20: 90.00 (90.00) and Latex 60% : 63.00 (63.00).

Source : Business Line