Spot rubber rules firm on global cues

Print this page Posted on : 11-28-2007 by recycleinme.com

Spot rubber continued to rule firm with another rise in domestic and international rubber futures on Tuesday.

RSS 4 improved to Rs.95 against Rs.94.50 a kg both at Kottayam and Kochi as covering groups and purchase agents remained active on the grade in main marketing centres. The market made all round gains on better demand.

FUTURES STEADY

The December futures for RSS 3 firmed up to 266.4 Yen a kg (Rs.97.49) from 265 Yen a kg at TOCOM. The trendsetter was sharply down during early trades following a fall in oil and gold amidst yen’s appreciation in financial markets. But the prices managed to finish in green on late trades following Yen’s retreat against the dollar.

Meanwhile, RSS 3 spot closed better at Rs.97.57 against RS.97.04 a kg at Bangkok. The December futures moved up to Rs.97.48 from RS.95.58 a kg on MCX.

On the NMCE, the last traded price (LTP) for the December futures was quoted at Rs.97.62 (Rs.96.48), January at Rs.98.90 (Rs.98.23), February at Rs.100.30 (Rs.99.54) and March at Rs.102.03 (Rs.101.63) per kg for RSS 4. The per kg spot prices were: RSS-4: Rs.95 (94.50); RSS-5: Rs.91.50(Rs.90); ungraded : Rs.87 (Rs.85); ISNR 20: Rs.90.50(Rs.90) and Latex60% : Rs.63 (Rs.63).

Source : Business Line