The Hindu Business Line : Rubber futures hit Rs 121/kg

Kottayam, May 6 Spot rubber gained sharply on Tuesday. RSS 4 improved to Rs 119 a kg from Rs 117 a kg both at Kottayam and Kochi as traders made an aggressive move on the grade. The immediate target of the market is now projected as Rs 130 a kg for sheet rubber and the rates are moving up on high speculation though there has been no support from the major consuming industries, an observer said. RSS 3 (spot) firmed up by 96 paise to Rs 116.63 a kg at Bangkok. The Japanese market was on long holidays.

May futures flare up

On NMCE, the May contract flared up to Rs 121 (118.36), June to Rs 119 (116.30), July to Rs 115.40 (112.51) and August to Rs 111.50 (108.86) per kg for RSS 4. The open interest was 4,538 (4,523) tonnes. The volumes were 2,484 (1,368) tonnes with 751 (416) tonnes in May, 1,293 (794) tonnes in June 268 (131) tonnes in July and 172 (27) tonnes in August. The open positions were 1,626 (1,787) tonnes in May, 1,797 (1,709) tonnes in June, 792 (733) tonnes in July and 323 (294) tonnes in August.

Spot prices were (Rs/kg): RSS-4: 119 (117); RSS-5: 117.50 (115); ungraded: 114.50 (113); ISNR 20: 116.50 (114) and latex 60 per cent: 80 (78.50).

More Stories on : Rubber

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