Commodities

Short covering buoys spot rubber prices

Our Correspondent Kottayam | Updated on December 29, 2014 Published on December 29, 2014




All rubber grades except RSS 4 made moderate gains on fresh buying and short covering on Monday. This was despite a weak closing in domestic rubber futures. According to observers, transactions were in a low key as major traders were unwilling to enlarge their commitments.

RSS 4 was quoted at ₹130 a kg, by the Rubber Board and traders. The grade closed steady at ₹128.50, according to dealers.

January futures weakened to ₹125.73 (₹126.25), February to ₹125.85 (₹126.70), March to ₹125.87 (₹126.78) and April to ₹126 (₹127.80) on the National Multi Commodity Exchange. RSS 3 (spot) improved to ₹108.27 (₹107.65) at Bangkok. January futures closed at ¥190 (₹100.45) on the Tokyo Commodity Exchange. Spot rubber rates (₹/ kg) were: RSS-4: 130 (130); RSS-5: 122 (120); Ungraded: 112 (110); ISNR 20: 111.50 (110) and Latex (60% drc): 88.75 (88).

Published on December 29, 2014
This article is closed for comments.
Please Email the Editor