Physical rubber prices finished marginally higher on Thursday. Covering purchases kept the market firm since the uptrend is expected to regain strength during in the new financial year. Late declines in domestic futures took the steam out and the gains were limited as sheet rubber remained under pressure on late trading hours.

Short-term prospects of natural rubber depend on how early the geopolitical concerns are mitigated and the nuclear crisis in Japan is solved according to Mr. Jom Jacob, Senior Economist, Association of Natural Rubber Producing Countries. Among other reports, at least 50,000 tonnes of rubber shipments from Thailand, the world's biggest rubber producer and exporter, were delayed by severe floods in the country's major rubber producing areas, disrupting transportation. More rain is expected in the next few days.

Sheet rubber improved to Rs 230.50 (230) a kg as quoted by the traders. The grade closed at Rs 231 (229) a kg according to Rubber Board.

The April series weakened to Rs 235.50 (235.96), May to Rs 242.01 (242.75), June to Rs 247.50 (248.69) and July to Rs 248.50 (249.43) a kg for RSS 4 on the National Multi Commodity Exchange.

RSS 3 (spot) inched up to Rs 255.99 (254.09) a kg at Bangkok. The April futures for the grade increased to ¥448 (Rs 241.01) from ¥444.9 during the day session but then slipped to ¥443.1 (Rs 238.40) a kg in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 230.50 (230); RSS-5: 228 (227); ungraded: 224 (222); ISNR 20: 225 (224) and latex 60 per cent: 135 (134).

Related Topics
comment COMMENT NOW