Spot rubber showed a mixed mood on Friday. The market appeared to be taking a breath after creating record highs continuously for the last few sessions. Major grades remained unchanged on buyer resistance though there were no quantity sellers till closing hours. The volume was low.
“In Bangkok, price rules around Rs 240 a kg for RSS 3. Why should be it be denied to our growers?” asked Mr George Waly, President, Indian Rubber Dealers Federation. “They do wish that they should also get a corresponding increase here. It is true that the traders and the industrialists have many hardships to face the situation. In spite of this no one could arrest the current trend as it zooms further in tune with the factors beyond our control,” Mr. Waly said.
Sheet rubber closed unchanged at Rs 214 a kg, according to dealers. The grade increased to Rs 214 (213) a kg both at Kottayam and Kochi, as quoted by the Rubber Board.
RSS 4 recovered partially at its January series to Rs 215 (213.62), February to Rs 221.80 (220.72), March to Rs 226.84 (225.49) and April to Rs 233.98 (233.06) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) firmed up to Rs 239.87 (237.53) a kg at Bangkok. The January futures for the grade weakened to ¥429 (Rs 233.25) from ¥432.5 a kg during the day session and then to ¥426 (Rs 231.62) a kg in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 214 (214); RSS-5: 203.50 (203); ungraded: 200 (200); ISNR 20: 211 (210) and latex 60 per cent: 146 (144).
(Source: http://www.blonnet.com/2011/01/08/stories/2011010852451800.htm)
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