Spot rubber showed a mixed trend on Tuesday.
Though the undercurrent was bullish, RSS-4 and ungraded rubber slipped marginally following the weakness on the National Multi Commodity Exchange (NMCE) during early trades.
But they failed to react in tune with the recovery in domestic futures during late trading hours. The sentiment was positive as buyers remained active in the remaining grades including latex. Volumes were comparatively dull.
Among other reports, the key Tokyo rubber futures slipped as oil prices fell and investors turned cautious at higher levels.
Traders expect further gains in the days ahead on concerns over tight supplies and sustained demand from emerging countries.
According to dealers, sheet rubber weakened to Rs 225 (226) a kg on buyer resistance.
The grade closed unchanged at Rs 225 a kg, as reported by the Rubber Board.
FUTURES IMPROVE
The February series improved to Rs 231.74 (228.93), March to Rs 236.99 (234.06), April to Rs 245.00 (243.01) and March to Rs 250 (248.93) a kg for RSS 4 on the NMCE.
Volumes totalled 13,118 lots and open interest 10,505 lots. The turnover was Rs 307.69 crore.
RSS 3 (spot) firmed up to Rs 252.78 (251.91) a kg at Bangkok.
The January futures for the grade slipped to ¥453 (Rs 249.42) from ¥453.5 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: 225 (226); RSS-5: 218 (217); Ungraded: 208 (209); ISNR 20: 220 (219) and latex 60 per cent: 152.50 (152).
(Source: http://www.blonnet.com/2011/01/19/stories/2011011951802000.htm)
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