Spot rubber rules steady

Print this page Posted on : 02-27-2008 by recycleinme.com

In the physical front, sheet rubber continued to rule steady at Rs 101 and Rs 101.25 a kg respectively at Kottayam and Kochi on Tuesday. The volumes were dull in a rather inactive market following heavy declines in global futures. The March futures for RSS 3 fell sharply to ¥300 (Rs 110.90) from ¥307.2 a kg at TOCOM mostly on profit booking at higher levels. The grade firmed up by 27 paise to Rs 114.16 a kg at Bangkok.

Futures weak

The rubber futures weakened on NMCE quoting the March futures at Rs 101.20 (102.09), April at Rs 104 (104.90), May at Rs 105.61 (106.85) and June at Rs 107.76 (108.62) per kg for RSS 4. The open interest stood at 7,003 (7,039) tonnes. The volumes were 941 (1,081) tonnes with 232 (384) tonnes in March, 509 (536) tonnes in April 129 (78) tonnes in May and 71 (83) tonnes in June. The outstanding positions were 4,127 (4,131) tonnes in March, 1,873 (1,912) tonnes in April, 712 (711) tonnes in May and 291 (285) tonnes in June.

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 per cent: 66 (66).

Source : Business Line