Mixed trend in rubber prices

Print this page Posted on : 11-30-2007 by recycleinme.com

Sheet rubber finished in the red at Rs.94 (Rs.94.50) a kg both at Kottayam and Kochi as the domestic and global factors continued to put pressure on the prices.

The physical rubber prices showed a mixed trend amidst dull volumes. According to observers, certain tyre companies were buyers on the grade at the quoted level till Wednesday but they withdrew their quotes later on Thursday once the market lost ground on international clues.

FUTURES WEAKEN

The December futures for RSS 4 weakened to Rs.96.15 from rS.96.50 a kg on MCX. The grade declined at its December futures to Rs.96.68 (Rs.97.25), January to Rs.98.10 (Rs.98.75), February to Rs.99.26 (Rs.100.02) and March futures to Rs.101.34 (Rs.101.90) per kg on NMCE.

The volumes totalled 1,3443 (1,619) lots and open interest 5,778 (5,531) lots. The outstanding positions were 1,782 (1,697) tonnes in December, 2,299 (2,186) tonnes in January, 1,399(1,346) tonnes in February and 298 (302) tonnes in March.

The December futures for RSS 3 fell further to 258.3 yen (Rs.94) from, 260.4 yen a kg at TOCOM. Its spot slipped by 38 paise to Rs.97.57 a kg at Bangkok.

The spot rubber prices were (Rs/kg): RSS-4: 94 (94.50); RSS-5: 90.50 (91.00); Ungraded : 86(86.50); ISNR 20: 89.50 (89.50); and Latex 60%: 62.50 (62.50).

Source : Business Line