Spot rubber improves on covering buys

Our Correspondent Kottayam | Updated on March 19, 2012 Published on March 19, 2012


Spot rubber continued to post moderate gains on Monday. According to observers, the prices firmed up mainly on covering purchases and the market seemed to be moving under the control of speculators. Sheet rubber improved to Rs 195 from Rs 194 and Rs 193.50 a kg respectively according to traders and the Rubber Board. The trend was partially mixed.

In futures, the April series improved to Rs 199.45 (198.68), May to Rs 204.25 (203.22), June to Rs 207.26 (206.10) and July to Rs 207.98 (206.10) a kg for RSS 4 on the National Multi Commodity Exchange.

Meanwhile the Tokyo rubber futures edged higher on tight supplies and firm oil prices. The Japanese markets will remain closed on Tuesday owing to Vernal Equinox Day.

RSS 3 (spot) finished marginally higher at Rs 201.19 (201) a kg at Bangkok. The March futures for the grade inched up to ¥315.4 (Rs 190.49) from ¥314.8 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 195 (194); RSS-5: 193 (191); ungraded: 187 (187); ISNR 20: 192 (191) and latex 60 per cent: 131 (130.50).

Published on March 19, 2012
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