Spot rubber steady in dull market

Kottayam, Dec. 9

Spot rubber finished steady on Thursday. According to observers, the market was inactive as there were no quantity buyers or sellers to set the trend.

Another weak closing in domestic futures kept the buyers on sidelines while sellers stayed back on supply fears. The transactions continued to be dull.

Sheet rubber closed flat at Rs 198 a kg both at Kottayam and Kochi, according to dealers and the Rubber Board.

The December series weakened to Rs 197.50 (Rs 198.22), January to Rs 200.30 (Rs 201.44), February to Rs 204.10 (Rs 205.27) and March to Rs 207.25 (Rs 208.38) a kg on National Multi Commodity Exchange (NMCE).

The volumes totalled 4,412 lots and open interest 6,581 lots. The turnover was Rs. 89.43 crore.

RSS 3 improved at its December futures to Rs 372.0 (Rs 200.21) from Rs 369.3 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.

The grade (spot) closed at Rs 205.64 (Rs 205.18) a kg at Bangkok. The per kg spot rubber rates are: RSS-4: Rs 198 (Rs 198.00), RSS-5: Rs 188 (Rs 188.00), Ungraded: Rs 183 (Rs 183.00), ISNR 20: Rs 191 (Rs 191.00) and Latex 60%: Rs 128 (Rs 128).

(Source: http://www.blonnet.com/2010/12/10/stories/2010121053451800.htm)