KOTTAYAM, MARCH 24:
Spot rubber was steady on Thursday. The market lost its direction as most of the traders were hesitant to enlarge their commitments since it is very near to the current financial year closing. Moderate gains in the global indices helped the prices to sustain at the prevailing levels though the session remained under pressure on buyer resistance following the declines in the domestic futures.
In the international scene, physical supplies remained tight since farmers in Thailand and Malaysia stopped tapping following a sharp drop in latex production during the dry season which is expected to end only in late April. The Tokyo rubber futures firmed up on supply concerns but the gains were limited on profit taking at higher levels.
Sheet rubber closed flat at Rs 228 a kg amidst scattered transactions. The grade weakened to Rs 227.50 (228.00) a kg both at Kottayam and Kochi as quoted by the Rubber Board.
In futures, the April series declined to Rs 223.51 (230.13), May to Rs 229.50 (235.96), June to Rs 235.75 (241.82) and July to Rs 235.76 (242.41) a kg for RSS 4 on the National Multi Commodity Exchange (NMCE).
RSS 3 (spot) flared up to Rs 260.37 (253.19) a kg at Bangkok. The March futures for the grade increased to ¥457 (Rs 252.45) from ¥445 a kg during the day session but then slipped to ¥455.4 (Rs 251.55) a kg in the night session on the Tokyo Commodity Exchange (TOCOM).
Spot prices were (Rs/kg): RSS-4: 228 (228); RSS-5: 224 (224); ungraded: 221 (221); ISNR 20: 222 (222) and latex 60 per cent: 130 (130).
(Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article1568657.ece)
No comments:
Post a Comment