Spot rubber improves on covering buys

Print this page Posted on : 07-01-2009 by recycleinme.com

Spot rubber turned better on Tuesday. The market improved on covering purchases amidst sustained rains all over the plantation areas during the past 24 hours. There were no fresh enquiries from the tyre sector, sources confirmed. Sheet rubber firmed up marginally to Rs 99.50 from Rs 99 a kg on scattered transactions. The trend was mixed.

Futures firm

The July futures for RSS 4 closed at Rs 97.48 (97.48), August at Rs 94.05 (94.45), September at Rs 91.41 (92.00) and October at Rs 90.80 (91.30) a kg on National Multi Commodity Exchange (NMCE).The July futures for RSS 3 bounced back to ?156.5 (151.5) (Rs 78.18), August to ?156.3 (152.2), September to ?157.4 (153.6), October to ?157.4 (154.1), November to ?160.1 (155.4) and December futures to ?162.1 (157.5) a kg during the day session on TOCOM. But the grade slipped to ?153.7, ?155.2, ?156, ?156.6, ?158.1 and ?160.2 a kg consecutively during the night session. RSS 3 slipped to Rs 80.51 (80.85) a kg at Bangkok. The grade closed at Rs 80.83 (80.74) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 99.50 (99); RSS-5: 97.50 (96.50); ungraded: 94 (93.50); ISNR 20: 90.50 (90.50) and latex 60 per cent: 88 (86.50).

Source : Business Line