| Date: |
27-03-2010 |
| Subject: |
Rubber gains on global cues |
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Kottayam, March 26 Physical rubber prices scaled further highs on Friday. Sharp gains in the international rubber futures catalysed the domestic mood and it made all-round gains mainly on speculative buying and short covering.
According to observers, major manufacturers were still inactive though supply concerns haunted the market even at higher levels. Sheet rubber moved up to Rs 154.50 from Rs 153.50 a kg with comparatively dull volumes. The undercurrent was extremely bullish. The April futures for RSS 4 improved toRs 158.25 (156.96), May to Rs 160.90 (159.12), June toRs 160.60 (158.62) and July to Rs 160 (158.63) a kg on National Multi Commodity Exchange.
RSS 3 flared up at its April futures to ¥323.3 (311.3), May to ¥319 (306.4), June to ¥313.1 (303.3), July to ¥309 (300), August to ¥306.1 (297.6) and September to ¥304 (300) a kg during the day session on Tokyo Commodity Exchange.The April futures closed at ¥321.1, May at ¥319, June at ¥314.8, July at ¥309.7, August at ¥307.3 and September at ¥305 a kg during the night session.
RSS 3 firmed up sharply to Rs 155.39 (151.92) a kg on Singapore Commodity Exchange. The grade gained further to Rs 155.58 (152.55) a kg at Bangkok. Spot prices (Rs/kg) were: RSS-4: 154.50 (153.50); RSS-5: 153.50 (152.50); Ungraded: 151.50 (151); ISNR 20: 151.50 (151) and Latex 60 per cent: 100 (100).
Source : Business Line
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