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Spot rubber rules flat on Nov 21, 2012

Spot rubber rules flat on Nov 21, 2012KOTTAYAM, NOV. 21: 

Physical rubber prices finished unchanged on Wednesday. There were no fresh enquiries from any major consuming sector, but the market managed to sustain at the prevailing levels probably as the domestic futures finished higher on the National Multi Commodity Exchange.

Though the market is supposed to be moving in to the peak production season, there has been no improvement in arrivals yet. It is also expected that the growers might prefer to hold the stocks rather than to sell at lower levels even during the season.

Meanwhile, the key TOCOM rubber futures inched up, marking a third day of gains as the Yen hit a seven-month low against the Dollar. But the gains were limited on concerns over the slowdown in global demand.

Sheet rubber closed unchanged at Rs 171 a kg, according to traders. The grade finished steady at Rs 170 a kg at Kottayam and Kochi as reported by the Rubber Board.

The December series increased to Rs 175.30 (173.50), January to Rs 177.49 (175.58), February to Rs 179.94 (177.77) and March to Rs 182 (181.28) a kg on NMCE.

RSS 3 (spot) closed at Rs 166.17 (166.12) a kg at Bangkok. The November futures improved to ¥243.5 (Rs 163.23) from ¥240.9 a kg during the day session, but then remained inactive in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 171 (171); RSS-5: 167 (167); ungraded: 162 (162); ISNR 20: 159.50 (159.50) and latex 60 per cent: 113 (113).

Source: Business Line

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