On Wednesday (06 October 2010), the spot rubber prices recovered due to short coverings. Moderate gains on the National Multi Commodity Exchange and the predictions regarding continuous rains till the weekend have triggered short covering in major grades, and the prices moved up sharply even amidst low volumes. Sheet rubber increased to Rs 174 from Rs 172 per kg mainly on covering purchases.
The October futures for RSS 4 rose to Rs 178.80 (175.91), November to Rs 180.90 (177.85), December to Rs 183.75 (180.80) and January to Rs 187.18 (183.75) per kg on the National Multi Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 174 (172); RSS-5: 168 (167); ungraded: 164.50 (163); ISNR 20: 169 (168) and latex 60 per cent: 116 (116).
(indiainfoline.com)
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