Spot rubber witnesses profit booking
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Spot rubber finished in the positive zone though there has been some profit booking from dealers at higher levels on Wednesday. RSS 4 improved to Rs 100.75 and 101 a kg respectively at Kottayam and Kochi from Rs 100 and Rs 99.50 a kg on Monday. A leading tyre manufacturer was buyer on the grade up to Rs 101 a kg, sources confirmed. Exporters were rather inactive during the session, they added. RSS 3 declined at its March futures to ¥297.2 (Rs 110.49) from ¥301.1 a kg at TOCOM. RSS 3 spot remained firm at Rs 112.88 (111.36 a kg at Bangkok.
Futures weak
The rubber futures turned weak on NMCE. The March futures slipped to Rs 99.91 (101.51), April to Rs 102.29 (104.49), May to Rs 104.49 (106.62) and June to Rs 106.84 (108.69) per kg for RSS 4. The volumes rose sharply to 3,139 (1,271) tonnes trading 1,470 (638) tonnes in March, 1,115 (501) tonnes in April 369 (98) tonnes in May and 185 (34) tonnes in June. The open interest stood at 6,787 (6,684 ) tonnes with 4,248 (4,187) tonnes in March, 1,694 (1,724) tonnes in April, 686 (666 ) tonnes in May and 159 (107) tonnes in June.
Spot prices were (Rs/kg): RSS-4: 100.75 (100); RSS-5: 99 (98); ungraded: 96.75 (96.50); ISNR 20: 98.50 (97) and latex 60 per cent: 66 (66).
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Source : Business Line |
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