Spot rubber rules steady

Print this page Posted on : 02-26-2008 by recycleinme.com

Physical rubber was steady on Monday. RSS 4 continued to be traded at Rs 101 a kg at Kottayam but the grade was slightly better by 25 paise at Rs 101.25 a kg at Kochi. According to sources, the market activities were in a low pace as the global news were not strong enough to set a visible price movement either side. RSS 3 firmed up by 13 paise to Rs 113.89 a kg at Bangkok. The March futures for RSS 3 improved to ¥307.2 (Rs 113.75) from ¥303.6 while its February contract weakened to ¥301 from ¥303.9 a kg at TOCOM.

Futures better

The rubber futures finished better on NMCE. The March futures improved to Rs 101.99 (Rs 101.42), April to Rs 104.75 (Rs 104.19), May to Rs 106.55 (Rs 105.97) and June to Rs 108.50 (Rs 108) per kg for RSS 4.The outstanding positions were 4,131 (4,230) tonnes in March, 1,912 (1,854) tonnes in April, 711 (711) tonnes in May and 285 (246) tonnes in June. The volumes were 1,081 (385) tonnes with 384 (169) tonnes in March, 536 (105) tonnes in April 78 (28) tonnes in May and 83 (83) tonnes in June. The open interest was 7,039 (7,041) tonnes.

Spot prices were (Rs/kg): RSS-4: 101 (101); RSS-5: 99 (99); Ungraded: 97 (97); ISNR 20: 98.50 (98.50) and Latex 60%: 66 (66).

Source : Business Line