Comments
Spot rubber saw a better trend on Monday. The market strengthened further mainly on covering purchases discounting the late slips but tracked the higher levels on the National Multi Commodity Exchange (NMCE).
Sheet rubber increased to Rs 214 a kg both at Kottayam and Kochi from Rs 213 and Rs 212.50, respectively, according to traders and the Rubber Board. The trend was partially mixed.
The current dip in rubber prices has not been caused by any major change in the commodity's fundamental demand-supply. Although the supply shows a marginal improvement compared with previously assessments, concerns over availability still persist.
On the demand side, China's import during the third quarter has been better than what was expected until a month ago. Total consumption in China, India and Malaysia is expected to rise 2.7 per cent in the third quarter against 1 per cent fall and 4.2 per cent fall registered in the first and second quarter, respectively.
In the futures market, the October series improved marginally to Rs 216.70 (216.14), while the November series slipped to Rs 213.18 (214.46), December to Rs 214.40 (215.27), January to Rs 215.61 (216.46) and February to Rs 218.40 (218.57 a kg for RSS 4 on the NMCE. RSS 3 (spot) firmed up to Rs 206.16 (203.91) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 214 (213); RSS-5: 211 (209); ungraded: 205 (203); ISNR 20: 204 (203) and latex 60 per cent: 130 (130).
Comments
COMMENT NOW
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.