The Hindu Business Line : Spot rubber stays firm

Advertisement

Kottayam Jan. 30 A corrective phase in global rubber futures kept spot rubber almost neutral with a weak undercurrent on Tuesday. The trendsetting Japanese market lost grip on bull liquidation at higher levels.

Sheet rubber closed unchanged at Rs 100.50 a kg at Kottayam, while it shed 50 paise to the same rate at Kochi. Ungraded rubber improved on better enquires from the non-tyre sector.

Under pressure

The prices remained under pressure in domestic rubber futures. The market lost mainly on profit booking rather than buyer resistance, sources said. The February contract for RSS 4 slipped to Rs 104.29 from Rs 105.06 a kg (313) lots on MCX.

The February contract on NMCE declined to Rs 103.10 (Rs 104.04), March Rs 105.80 (Rs 106.53), April Rs 110.75 (Rs 111.09) and May Rs 114.79 (Rs 115.29) a kg for RSS 4. The turnover was 2,722 (4,042) lots, while the open interest totalled 12,021 (11,713) lots.

Spot prices were (Rs a kg): RSS-4: 100.50 (100.50); RSS-5: 96 (96); Ungraded: 93.75 (93); ISNR 20: 94 (94.50) and Latex 60 per cent: 67.35 (67.35).

More Stories on : Rubber | Commodity Exchanges

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

Stories in this Section
Deep westerly trough churning weather in North India

Primitive technique

Plantation panel enlarges insurance cover scheme

Spot rubber stays firm

Tea prices ease at Coimbatore sale

Milk dearer in AP coastal towns

Call to increase area under veg oil crops

Brazil likely to join global cashew alliance

MCX coffee futures post 1.38% gain

Mumbai to host multiple commodity meet

Nabard to hold credit seminar