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Spot rubber gains on global cues on Dec. 28, 2012


Spot rubber improved on Friday. The market seemed to be reacting in tandem with the overall gains in the domestic and international futures. Though there were no genuine buyers in the commodity to catalyse the sentiments, the absence of quantity sellers as growers preferred to hold the stocks triggered short covering on late trades.

Sheet rubber improved to Rs 161.50 (161) a kg at Kottayam and Kochi according to traders and the Rubber Board. The volumes continued to be dull.

In futures, the January series concluded at Rs 165.41 (163.57), February at Rs 168 (165.87) March at Rs 170.50 (168.79) April at Rs 174.87 (180.28) and May at Rs 175 (172.55) a kg, while the most distant month June series remained inactive on the National Multi Commodity Exchange.

RSS 3 (spot) improved to Rs 177.75 (176.39) a kg at Bangkok.

The January futures increased to ¥288.8 (Rs 183.66) from ¥285.4 a kg during the day session but then finished steady in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 161.50 (161); RSS-5: 155.50 (155); ungraded: 151 (150); ISNR 20: 151.50 (151) and latex 60 per cent: 105.50 (105).

Source: Business Line

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