Spot rubber stays firm

Print this page Posted on : 12-21-2007 by recycleinme.com

The domestic rubber prices were partially firm on Thursday. A better closing in the Japanese trend setter and the unhealthy weather conditions kept the prices inclined to the positive side. The January futures for RSS 3 inched up to ¥284.1 (Rs.99.30) from ¥283.7 a kg at TOCOM. Sheet rubber finished unchanged at Rs.92 a kg at Kottayam while the grade improved to Rs.92.50 from Rs.92 a kg at Kochi. The trend was mixed and the volumes low as the market remained in a holiday mood.

FUTURES WEAK

The rubber futures turned weak following a late selling towards close on NMCE. The January futures slipped to Rs.94.94 (Rs.95.09), February to Rs.96.60 (Rs.96.69), March to Rs.97.92 (Rs.98.01) and April to Rs.99.66 (Rs.99.75) per kg for RSS 4. The LTP for the January futures was Rs.95 (Rs.94.87) a kg on MCX. The open interest stood at 7,196 (7,156) lots with 2,927 (3,005) tonnes in January, 3008 (2,951) tonnes in February, 1,145 (1,098) tonnes in March and 116 (102) tonnes in April on NMCE. The volumes totalled 924 (1,265) tonnes.

Spot prices were (Rs./kg): RSS-4: 92 (92); RSS-5 : 88.50 (88); ungraded : 87.50 (87); ISNR 20 : 87.50 (87.50) and latex 60 per cent : 60.50 (60.50).

Source : Business Line