The Hindu Business Line : Spot rubber stretches to Rs 111/kg

Kottayam, Oct. 19 Physical rubber prices flared up on Monday. According to sources, the market moved up on covering purchases though there was no trendsetting factor specific to rubber observed behind the bull run. Sheet rubber improved to Rs 111 from Rs 109 a kg during the last week end. There were no fresh enquiries from the tyre sector. The market made all-round gains with comparatively better volumes.

The National Multi Commodity Exchange (NMCE) remained closed owing to Bahu-Beej.

Futures weak

The October futures for RSS 3 weakened to ¥217.6 (¥219.9) (Rs 110.76) while the November futures improved to ¥220.5 (¥214), December to ¥218.9 (¥212.2), January to ¥219 (¥212.5), February to ¥218.3 (¥212.6) and March to ¥218.8 (¥212.8) a kg during the day session on Tokyo Commodity Exchange (TOCOM).

The October futures for the grade closed at ¥217.6, December at ¥217.5, January at ¥219.3, February at ¥218.8 and March at ¥219.3 a kg while the November futures remained inactive during the night session.

RSS 3 moved up to Rs 110.99 (109.63) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) closed firm at Rs 109.74 (108.35) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4:111 (109); RSS-5: 107 (105); ungraded: 101.50 (100.50); ISNR 20: 98.50 (97.50) and latex 60 per cent: 73 (71.50).