KOTTAYAM, JULY 3:
Spot rubber scaled further on Wednesday despite a weak closing on the NMCE.
The prices improved sharply reducing the gap between the cash and the futures markets. The commodity continued to suffer from short supplies following incessant rains all over the plantation areas.
Sheet rubber improved to Rs 189 (Rs 184.50), according to traders. The grade firmed up to Rs 188 (Rs 184), as reported by the Rubber Board.
July futures weakened to Rs 187.77 (Rs 192.04), August to Rs 182.10 (Rs 186.90), September to Rs 175.55 (Rs 180.13), October to Rs 173.11 (Rs 175.44), November to Rs 174.20 (Rs 174.28) while the December futures remained inactive on the National Multi Commodity Exchange. RSS 3 (spot) slid to Rs 161.14 (Rs 161.28) at Bangkok. July futures dropped to ¥238.0 (Rs 143.78) on the Tokyo Commodity Exchange. Spot rubber rates Rs/kg : RSS-4: 189 (184.50); RSS-5: 179 (176); Ungraded: 169 (167); ISNR 20: 169 (167.50) and Latex 60%: 135.50 (132.50).
Source: Business Line
