Steady trend in spot rubber

Print this page Posted on : 01-25-2008 by recycleinme.com

A steady trend continued to dominate the physical front on Thursday. Almost similar closing in the domestic and international futures led the day, sources said. Sheet rubber downed the shutters at Rs 93.75 and Rs 94 akg respectively at Kottayam and Kochi as on the previous day. The transactions were dull lacking active market participation. RSS 3 spot moved down by 40 paise to Rs 102.91 (103.31) a kg at Bangkok.

Futures drop

The February futures for the grade closed at ¥269.8 (Rs 100.17) against ¥269.1 a kg at TOCOM. The February futures on NMCE was quoted at Rs 95.09 (95.31), March at Rs 96.96 (97.27), April at Rs 98.98 (99.18) and May at Rs 100.70 (101.23) per kg for RSS 4. The March futures concluded at Rs 96.95 (95.65) a kg on MCX.

The outstanding positions on NMCE were 4,123 (4,164) tonnes in February, 2,898 (2,890) tonnes in March, 905 (907) tonnes in April and 142 (125) tonnes in May. The volumes were 773 (739) tonnes with 467 (243) tonnes in February, 173 (226) tonnes in March, 89 (211 ) tonnes in April and 44 (59) tonnes in May. The open interest was 8,068 (8,086) tonnes.

Spot prices were (Rs/kg): RSS-4: 93.75 (93.75); RSS-5: 91.50 (91.50); ungraded: 89.75 (89.75); ISNR 20: 90.50 (90.50) and latex 60 per cent: 59 (59).

Source : Business Line