The Hindu Business Line : Rubber increases on higher bids

THE domestic physical rubber firmed up further on Thursday. According to market circles, covering groups and purchase agents offered better quotations, as major manufacturers were reported to be buying sheet rubber up to Rs 65.25 a kg from the main marketing centres.

Arrivals were still low due to bad weather conditions. The trend remained mixed, as RSS 5 and latex remained unchanged, while the other grades improved on fresh enquiries.

Rubber futures continued to post moderate gains on the National Multi-Commodity Exchange of India (NMCE) though all major international markets were bearish. The December delivery contract was traded at Rs 66.29 (66); January contract at Rs 67.18 (66.89); February contract at Rs 68.10 (67.60) and March contract at Rs 68.75 (68.14) per kg for RSS 4. On the Multi-Commodity Exchange (MCX), the December futures for RSS 4 improved to Rs 66 from Rs 65.57 a kg, but the transactions were in an extremely low key.

The January futures for RSS 3 fell to 191.1 yen from 192.9 yen a kg at TOCOM. The same grade was steady at Rs 73.98 a kg at Bangkok.

Spot prices per kg were as follows: RSS-4: 65.50 (65.25); RSS-5: 63 (63); ungraded: 61.25 (61.00); ISNR 20: 63.50 (63.25) and latex 60 per cent: 44 (44).

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page