Spot rubber rules weak

Print this page Posted on : 01-31-2008 by recycleinme.com

Physical rubber rates ruled weak though the international and domestic futures finished better on Wednesday. Major grades slipped on buyer resistance even amidst a low supply to main marketing centres.

Sheet rubber RSS 4 moved down to Rs 93 and Rs 93.25 a kg respectively at Kottayam and Kochi from Rs 93.50 a kg on Tuesday. The trend was mixed.

RSS 3 moved up further to Rs 104.09 from Rs 103.05 a kg at Bangkok. The grade's February futures closed better at ¥280.4 (Rs 103.59) against ¥276.9 a kg at TOCOM following firm reports in crude oil.

Futures improve

RSS 4 improved at its February futures to Rs 93.20 (92.63), March to Rs 94.75 (94.17), April to Rs 96.95 (96.31) and May to Rs 98.85 (98.35) per kg on NMCE. The open interest stood at 8,043 (7,968) tonnes. The volumes were 1,238 (1,638) lots as traders handed over 522 (852) lots in February, 521 (505) lots in March, 117 (145) lots in April and 78 (136) lots in May. The outstanding positions were 3,682 (3,796) tonnes in February, 3,127 (3,005) tonnes in March, 994 (957) tonnes in April and 240 (210) tonnes in May.

Spot prices were (Rs/kg): RSS-4: 93 (93.50); RSS-5: 91 (91); ungraded: 89 (89.50); ISNR 20: 90 (90) and latex 60 per cent: 58.50 (58.50).

Source : Business Line