Spot rubber gains as growers hold back stocks

Kottayam, Dec. 13

Spot rubber prices improved on Monday. On the spot, prices firmed up reacting to sharp gains in the domestic and international markets.

Supply concerns continued to haunt the sentiments though there has been a positive change in weather as rains subsided during the past couple of days. According to observers, growers mostly preferred to hold on their stocks expecting the rally to continue in tune with the global trend.

Sheet rubber increased to Rs 199.50 (198) a kg according to dealers. The grade finished firm at Rs 198.50 (Rs 197.50) a kg both at Kottayam and Kochi, according to Rubber Board.

In futures, the December series moved up to Rs 201.15 (Rs 198.10), January to Rs 205.28 (Rs 201.67), February to Rs 208.64 (Rs 205.37) and March to Rs 211.29 (Rs 208.61) a kg on the National Multi Commodity Exchange.

RSS 3 flared up sharply with the December futures rising to Rs 385.9 (Rs 207.32) from Rs 372.9 a kg during the day session and then to Rs 388.5 (Rs 208.71) in the night session on the Tokyo Commodity Exchange. The grade (spot) improved to Rs. 208.69 (Rs 205.64) a kg at Bangkok.

Spot rubber rates (Rs/kg) were: RSS-4: Rs 199.50 (Rs 198), RSS-5: Rs 189.50 (Rs 188), Ungraded: Rs 186 (Rs 184), ISNR 20: Rs 191.50 (Rs 191) and Latex 60 per cent: Rs 128 (Rs 127)

(Source:

http://www.thehindubusinessline.com/2010/12/14/stories/2010121451501800.htm)