Spot rubber hit another record high on Monday. Though the market is passing through the peak production season, supply concerns continued to put pressure on the buyers and the prices firmed up further on fresh buying and short covering.
There were no quantity sellers on any grade even at higher levels, sources said.
According to dealers, sheet rubber improved to Rs 208 (206.50) a kg mainly on covering purchases. The grade improved to Rs 207.50 (207) a kg both at Kottayam and Kochi, as reported by the Rubber Board.
Futures slip
In futures, the January series slipped to Rs 211.75 (211.78) while the February series increased to Rs 218.72 (216.94), March to Rs 223.50 (221.34) and April to Rs 229.76 (228.44) a kg for RSS 4 on the National Multi Commodity Exchange. Spot rates were: RSS-4: 208 (206.50); RSS-5: 200 (199); ungraded: 196 (195); ISNR 20: 205 (204) and latex 60 per cent 140 (138.50).
(Source: http://www.blonnet.com/2011/01/04/stories/2011010452701800.htm)
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