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Spot rubber prices recorded another high on Tuesday. Sharp gains on the Tokyo Commodity Exchange (TOCOM) futures and a positive mood on the National Multi Commodity Exchange (NMCE) catalysed domestic sentiments, while sellers stayed away expecting better rates in the days ahead. The market continued to experience an acute shortage of the raw material as growers still preferred to hold a major portion of their stocks. Though the change in weather was favourable for tapping, there has been no improvement in arrivals.
Sheet rubber increased to Rs 210 (208) a kg on fresh buying and short covering. The grade moved up to Rs 209.50 (207.50) a kg both at Kottayam and Kochi, according to the Rubber Board.
Futures firm
The January series closed at Rs 212.68 (211.71), February at Rs 219 (218.73), March at Rs 223.70 (223.59) and April at Rs 230.37 (229.63) a kg for RSS 4 on the NMCE.
RSS 3 (spot) firmed up to Rs 226.39 (224.07) a kg at Bangkok. Its January futures flared up to ¥416.2 (Rs 227.90) from ¥405.1 a kg during the day session and then to ¥418 (Rs 228.85) in the night session on the TOCOM.
Spot rates were (Rs/kg); RSS-4: 210 (208); RSS-5: 201 (200); ungraded: 197 (196); ISNR 20: 207 (205) and latex 60 per cent 142 (140).
(Source: http://www.blonnet.com/2011/01/05/stories/2011010552721800.htm)
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