Spot rubber rules steady

Kottayam, Dec. 30

Spot rubber continued to rule almost steady on Thursday. Expectations on an improvement in arrivals during the ongoing peak production season kept the buyers on sidelines but the market managed to close unchanged lacking quantity sellers in major grades. The trend was partially mixed as RSS 5 lost ground on comparatively low demand and better supply.

Sheet rubber finished unchanged at Rs 206 a kg, according to traders. The grade weakened to Rs 206.50 (207) a kg both at Kottayam and Kochi, according to the Rubber Board.

Futures drop

RSS 4 declined with January series slipping to Rs 208.24 (209.43), February to Rs 213 (214.15), March to Rs 217.15 (218.18) and April to Rs 223.21 (224.21) a kg on the National Multi Commodity Exchange. The volumes totalled 4336 lots and open interest 8999 lots. The turnover was Rs.92.32 crore.

RSS 3 (spot) slipped to Rs 224.07 (224.13) a kg at Bangkok. The January futures for the grade weakened to ¥403.6 (Rs 222.62) from ¥404.5 a kg during the day session on the Tokyo Commodity Exchange (TOCOM).

Spot rates were (Rs/kg): RSS-4: 206 (206); RSS-5: 198 (199): ungraded: 195 (195); ISNR 20: 204 (204) and latex 60 per cent 138.50 (138.50).

(Source: http://www.thehindubusinessline.com/2010/12/31/stories/2010123152111600.htm)