Rise in spot rubber prices

On Monday (03 January 2011), the spot rubber prices firmed up further and hit another record high due to fresh buying and short covering. Though the market is passing through the peak production season, supply concerns continued to put pressure on the buyers. Sheet rubber increased to Rs. 208 from Rs. 206.50 per kg mainly on covering purchases.

The January futures for RSS 4 declined to Rs. 211.75 (211.78), while the February contract increased to Rs. 218.72 (216.94), March to Rs. 223.50 (221.34) and April to Rs. 229.76 (228.44) per kg on the National Multi Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 208 (206.50); RSS-5: 200 (199); ungraded: 196 (195); ISNR 20: 205 (204) and latex 60 per cent: 140 (138.50).

(http://www.indiainfoline.com/Markets/News/Rise-in-spot-rubber-prices/3467950948)