Comments
Physical rubber prices improved on Thursday. According to observers, the market firmed up following the early gains on the National Multi Commodity Exchange (NMCE) but it failed to react in tune with the late declines in domestic futures. Volumes continued to be dull.
Limited supplies due to the ongoing monsoon and the gap between the domestic and international markets cushioned the prices to a certain extent. Meanwhile, TOCOM rubber futures regained initial losses since Japan decided to intervene in the forex market to control its currency. Sheet rubber increased to Rs 210.50 (209) a kg, according to traders. The grade bounced back to Rs 211 (208) a kg both at Kottayam and Kochi, according to the Rubber Board.
In futures, the August series slipped to Rs 210.89 (211.61), September to Rs 210.95 (211.25), October to Rs 210.80 (210.96), November to Rs 211.80 (212.25), December to Rs 214 (215) and January to Rs 217.01 (217.46) a kg on the NMCE.
RSS 3 (spot) weakened to Rs 216.36 (216.83) a kg at Bangkok. The August futures dropped to ¥381.5 (Rs 213.07) from ¥382.3 a kg during the day session but then recovered marginally to ¥381.7 (Rs 213.17) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 210.50 (209); RSS-5: 206.50 (206); ungraded: 200 (199); ISNR 20: 207.50 (207) and latex 60 per cent: 135 (133.50).
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.