Market on Sept 14: Rubber continues to flare up on supply woes

KOTTAYAM, SEPT. 14:

Rubber prices made handsome gains on Friday. Favourable reports from the global trend setters and sharp gains in domestic futures catalysed the sentiments further. Sheet rubber improved to Rs 185 from Rs 183 and Rs 182.50 a kg respectively, according to traders and the Rubber Board. The arrivals continued to be extremely poor and market seemed to be riding high over supply concerns.

The September series bounced back to Rs 193.26 (185.83), October to Rs 190.86 (183.52), November to Rs 188.70 (181.45) and December to Rs 188.82 (181.56) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) closed higher at Rs 170.04 (166.05) a kg at Bangkok. The September futures increased to ¥237.9 (Rs 165.76) from ¥232.3 a kg during the day session and then to ¥242.4 (Rs 168.84) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 185 (183); RSS-5: 180 (176); ungraded: 175 (172); ISNR 20: 167 (164) and latex 60 per cent: 127 (125).

Source: http://www.thehindubusinessline.com/markets/commodities/article3897436.ece