KOTTAYAM, JULY 11:
Physical rubber prices ended higher despite a weak closing on the National Multi Commodity Exchange.
Sheet rubber improved to Rs 195 at Kottayam and Kochi from Rs 194 and Rs 192 a kg, respectively, according to traders and the Rubber Board. Certain tyre makers were buyers on the grade at the prevailing levels during late trades, sources said.
Continuous rains and the absence of quantity sellers kept the market visibly bullish during the day.
July contracts declined to Rs 193 (Rs 195.99), August to Rs 188.15 (Rs 191.17), September to Rs 179 (Rs 183.32), October to Rs 171.99 (Rs 175.07), November to Rs 166 (Rs 170.74) and December to Rs 169 (Rs 171.35) for RSS 4 on the NMCE. RSS 3 (spot) dropped to Rs 154.10 (Rs 155.10) at Bangkok. July futures increased to ¥ 239.9 (Rs 144.54) on Tokyo Commodity Exchange.
The Tokyo rubber futures gained erasing the previous day’s losses partially after US Federal Reserve Chairman Ben Bernanke’s statement that easy monetary policy is still needed for the foreseeable future.
Spot rubber rates Rs/kg : RSS-4: 195 (194); RSS-5: 185 (184.00); Ungraded: 175 (174); ISNR 20: 175 (172) and Latex 60%: 142 (141).
Source: Business Line
