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Spot rubber stays firm on supply crunch

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Spot rubber stays firm on supply crunch
Description  :  Industry
Date  :  Aug-19-2010

The spot rubber continued its firmness on Wednesday as well. There seems to lack of buyers or sellers in the main trading centres to give a definite direction to sheet rubber.

On the National Multi Commodity Exchange (NMCE), the September series fell significantly to Rs 171.20 (176.38) followed by October Rs 164.49 (169.36), November Rs 163.90 (166.74) and December Rs 164.75 (167.50) a kg for RSS 4. The benchmark Tokyo rubber futures contract rose 3 per cent to a three-month high following a relative stability in Japanese stocks and a pause in the Yen's advance against dollar.

While on the Tokyo Commodity Exchange (TOCOM), the August futures for RSS 3 surged to 330/Rs 180.22 (325.7) a kg during the day session. The grade closed firmly at 330 during the night session. RSS 3 (spot) rose to Rs 154.78 (Rs 153.45) a kg at Bangkok. Spot rates were: RSS-4: 184 (184); RSS-5: 174 (174); ungraded: 164 (164); ISNR 20: 156 (156) and latex 60 per cent: 114 (114).

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