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Spot rubber inches up on global cues on Nov. 19, 2012

Spot rubber inches up on global cues on Nov. 19, 2012KOTTAYAM, NOV. 19: 

The rubber market turned better on Monday.

Moderate recovery in domestic futures and a better closing in international indices kept the buyers comparatively active in the commodity at lower levels.

Meanwhile, the Key TOCOM rubber futures recovered to a two-week high tracking a jump in oil prices and Yen’s decline to a seven-month low.

Sheet rubber improved to Rs 170 (168) a kg, according to traders.

The grade firmed up to Rs 169 (168) a kg at Kottayam and Kochi, as quoted by the Rubber Board.

The December series increased to Rs 174.70 (170.89), January to Rs 176.95 (172.92), February to Rs 179.15 (175.13), March to Rs 180.50 (178.44) and April to Rs 184.20 (179.33), while the May series declined to Rs 178.50 (180.33) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) closed firm at Rs 165.67 (164.92) a kg at Bangkok.

The November futures increased to ¥238.7 (Rs 161.90) from ¥236.1 a kg during the day session and then to ¥242 (Rs 164.13) from ¥236.1 a kg in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 170 (168); RSS-5: 166 (165); ungraded: 161 (160); ISNR 20: 159 (158) and latex 60 per cent: 113 (111.50).

Source: Business Line

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