Agri Business

Spot rubber stays steady

Our Correspondent Kottayam | Updated on August 10, 2011

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Spot rubber closed unchanged on Wednesday. The market lost its direction as sellers stayed back following the marginal improvement in the domestic and international futures. There were signs of recovery across the board as the US Federal Reserve assured that it would maintain the benchmark interest rate at record low level of 0.25 per cent at least till mid-2013. The transactions were dull.

According to traders, sheet rubber closed flat at Rs 204 a kg amidst scattered transactions. The grade finished unchanged at Rs 203.50 a kg both at Kottayam and Kochi, as quoted by the Rubber Board.

RSS 4 improved with the August series rising to Rs 206 (204.37), September to Rs 204.10 (201.36), October to Rs 204.30 (201.26), November to Rs 204.50 (201.60), December to Rs 204.70 (202.85) and January to Rs 207.50 (203.87) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) weakened to Rs 209.93 (212.10) a kg at Bangkok. The August futures recovered partially to ¥352 (Rs 207.81) from ¥349.8 a kg during the day session and then to ¥356.2 (Rs 210.35) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 204 (204); RSS-5: 200 (200); ungraded: 192 (192); ISNR 20: 203 (203) and latex 60 per cent: 132 (132).

Published on August 10, 2011

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