Spot rubber rules steady

Print this page Posted on : 11-07-2009 by recycleinme.com

Aravindan

Kottayam, Nov. 6

Spot rubber finished unchanged on Friday. The market was quiet and neutral as most traders preferred to stay back waiting for a positive signal from the major consuming industries before expanding commitments on either side.

Marginal weakness in the domestic futures failed to make any visible impact in the physical prices. Sheet rubber finished steady at Rs 109.50 a kg for the fifth consecutive day amidst weak volumes.

Futures decline

The November futures moved down to Rs 109.85 (110.50), December to Rs 111.75 (112.88), January to Rs 113.71 (114.79) and February to Rs 115.47 (116.30) a kg for RSS 4 on NMCE. RSS 3 weakened at its November futures to ¥228.5 (¥229) (Rs 117.89), while its December futures improved to ¥228.4 (¥228), January to ¥228.8 (¥226), February to ¥228.6 (¥225.2), March to ¥229.1 (¥225.8) and April to ¥230.4 (¥227.8) a kg during the day session on Tokyo Commodity Exchange (TOCOM). The November futures closed at ¥228.5, December at ¥226.3, January at ¥229.5, February at ¥229.1, March at ¥228.9 and April at ¥230.2 a kg during the night session.

RSS 3 firmed up to Rs 115.87 (115.44) a kg on Singapore Commodity Exchange (SICOM). The grade closed at Rs 116.19 (115.99) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 109.50 (109.50); RSS-5: 104.50 (104.50); ungraded: 101 (101); ISNR 20: 99.50 (99.50) and latex 60 per cent: 70 (70).

Source : Business Line