Spot rubber prices up with global market

Print this page Posted on : 11-20-2009 by recycleinme.com

Kottayam, Nov. 19

Physical rubber prices flared up on Thursday. The market regained strength as the domestic and international futures were in extremely bullish mood on the National Multi-Commodity Exchange (NMCE) and the Singapore Commodity Exchange (SICOM).

Sheet rubber firmed up to Rs 112.50 from Rs 111.50 a kg, mainly on covering purchases. Major manufacturers stayed away from the market despite the short-supply and the absence of quantity sellers, an observer said.

RSS 3 moved up to Rs 120.12 a kg (Rs 118.27) on the SICOM. The grade (spot) gained further to Rs 119.25 a kg (118.14) at Bangkok.

Futures improve

December futures for RSS 4 improved to Rs 116.59 (Rs 114.48) and January to Rs 118.70 (Rs 116.55) a kg on the NMCE.

RSS 3 firmed up on Tokyo Commodity Exchange with the November futures rising to ¥234.5 (¥232.0) a kg (Rs 123.02); December to ¥238.8 (¥234.7) and January to ¥238.0 (¥233.3 during the day .

The November futures closed at ¥236.0 yen; December at ¥238.5; February at ¥239.3; March at £241. during the night session.

Spot prices (in Rs a kg) were: RSS-4 at 112.50 (111.50); RSS-5 at 108.00 (106.50); Ungraded at 105 (103.50); ISNR 20 at 106.50 (105); and Latex 60% at 70 (70).

Source : Business Line