The Hindu Business Line : Spot rubber tops Rs 90/kg

The physical rubber prices marked yet another record crossing the $2-mark on Tuesday. Sheet rubber RSS 4 went up to Rs 90and Rs 89.75 a kg respectively at Kottayam and Kochi from Rs 89.50 a kg on Monday.

According to sources, certain tyre companies had furnished revised quotes for sheet rubber at prevailing rates. But covering groups and purchase agents refused to enhance their quotations further, as the international indices underwent a sharp decline in all the leading commodity exchanges.

Consumers appeared most unhappy as growers and dealers were still unwilling to unfold their stocks to bag further gains in the short term. The absence of enough supply and trading volumes would create an extremely unhealthy situation in the market, they said.

FUTURES DECLINE

The rubber futures declined on the NMCE reacting to the bearish global trends. The May contract was quoted at Rs 88.90 (Rs 89.32), June at Rs 89.80 (Rs 90.26), July at Rs 89.80 (Rs 90.38) and August contract at Rs 88.75 (Rs 89.21) per kg for RSS 4.

Spot rates (Rs a kg) were: RSS-4 - Rs 90 (Rs 89.50); RSS-5: Rs 89 (Rs 88.50); Ungraded: Rs 88 (Rs 87.50); ISNR 20: Rs 88.50 (Rs 88); and latex 60% (per ltr): Rs 63 (Rs 62).

More Stories on : Rubber | Commodity Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page