Agri Business

Spot rubber continues to gain

Aravindan Kottayam | Updated on January 17, 2011 Published on January 14, 2011




Spot rubber prices concluded the session at an all-time high on Friday. According to observers, the market was following the gains in the trendsetting international markets which ruled around Rs 25 above the domestic market.

“We are expecting the prices to reach the global levels once the tapping season is over,” a trader said.

Certain tyre manufacturers were active in the market. But the gap between the demand and supply was still wide since there were no quantity sellers even at these extraordinary levels.

Sheet rubber moved up to Rs 221 (220) a kg on fresh buying and short covering. The grade firmed up to Rs 220 (219) a kg both at Kottayam and Kochi, as reported by the Rubber Board.

The National Multi Commodity was closed owing to Uttarayan.

RSS 3 (spot) increased further to Rs 247.34 (245.10) a kg at Bangkok. The grade improved at its January futures to ¥447.9 (Rs 245.61) from ¥444.5 a kg during the day session and then to ¥451 (Rs 247.30) in the night session on the Tokyo Commodity Exchange (TOCOM).

Spot rates were (Rs/kg): RSS-4: 221 (220); RSS-5: 209 (208); ungraded: 205 (204); ISNR 20: 217 (216) and latex 60 per cent: 151 (150).

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Published on January 14, 2011
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