Spot rubber prices improve

Print this page Posted on : 12-27-2007 by recycleinme.com

The physical rubber prices improved on Wednesday. Sheet rubber closed better by 50 paise a kg at Rs.94.50 at Kottayam as co0vering groups joined the buyers; queue but the grade closed flat at Rs.94 a kg at Kochi. The market made all-round gains and there was sustained demand from the non tyre sector. The January futures for RSS 3 rose to 294.5 yen (Rs.101.50) from 292.6 Yen a kg at TOCOM lead by weak Yen and strong crude oil. RSS 3 (spot) flared up to Rs.101.70 (99.83) at Bangkok.

FUTURES STEADY

The rubber futures shed the initial gains to conclude almost unchanged with a slight bearish outlook on NMCE. The January contracts landed at Rs.97 (96.90). February at Rs.98.55 (98.82), March at Rs.100.60 (100.81) and April at Rs.102.11 (102.30) per kg for RSS 4. Spot prices were (Rs./kg): RSS-4: 94.50 (94); RSS-5: 92.50 (92); ungraded : 91.50(90); ISNR 20: 91 (90.50) and latex 60 per cent : 61.50 (61).

Source : Business Line