Mixed trend in rubber

Kottayam, Jan. 13

Spot rubber saw mixed trend on Thursday. The market took a halt possibly as the January futures on the National Multi Commodity Exchange (NMCE) finished slightly weak consecutively for the second day though the global indices were bullish. Meanwhile, ungraded rubber slipped on buyer resistance while ISNR 20 improved amidst better volumes.

Among other reports from the global scene, the key Tokyo rubber futures opened firm hitting another record high on early trades as a continuation of the rise in other commodities and expectations on strong demand as well as supply concerns.

According to traders, sheet rubber finished firm at Rs 220 a kg. The grade closed steady at Rs 219 a kg both at Kottayam and Kochi, as quoted by the Rubber Board.

The January series closed at Rs 218 (218.11), February at Rs 225.90 (225.92), March at Rs 231.49 (231.49) and April at Rs 239.70 (238.74) a kg for RSS 4 on the NMCE.

RSS 3 (spot) bounced back to Rs 245.10 (241.22) a kg at Bangkok. The January futures for the grade improved to ¥444.5 (Rs 242.27) from ¥441.5 a kg during the day session and then to ¥444.6 (Rs 242.33) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 220 (220); RSS-5: 208 (208); ungraded: 204 (205); ISNR 20: 216 (215) and latex 60 per cent: 150 (150).

(Source: http://www.blonnet.com/2011/01/14/stories/2011011451811800.htm)