Spot rubber prices gain on global cues

Kottayam, Dec.16

Rubber prices improved on Thursday. On the spot market, another sharp rise in Bangkok spot prices catalysed the domestic mood and the market made all-round gains on fresh buying and short covering. According to observers, there was neither visible buying from the tyre sector nor improvement in arrivals to influence the day's trend. The undercurrent was firm.

Sheet rubber closed at Rs 202 a kg at the main marketing centres. The grade increased to Rs 201 (199.50) a kg both in Kottayam and Kochi, according to the Rubber Board.

Futures flare up

The January series flared up to Rs 208.16 (205.14), February to Rs 211.70 (208.35) and March to Rs 214.60 (211.43), while the April series concluded the debut trading session at Rs 218.01 a kg for RSS 4 on the National Multi Commodity Exchange.

The December futures for RSS 3 slipped to ¥ 386.5 (Rs 208.60) from ¥ 387.0 a kg during the day session, but then recovered partially to ¥ 386.7 (Rs 208.70) in the night session on Tokyo Commodity Exchange (TOCOM). RSS 3 (spot) increased to Rs 213.02 (211.82) a kg at Bangkok.

Spot prices (Rs/kg) were: RSS-4: 202 (200); RSS-5: 195 (191.50); Ungraded: 192 (188); ISNR 20: 194 (193); and latex 60 per cent: 130 (129).

(Source: http://www.blonnet.com/2010/12/17/stories/2010121752171800.htm)