Spot rubber prices stable

Tag : rubber rss

Kottayam: Spot rubber prices rates firmed up on Monday. Another positiveclosing in Japanese futures followed by yens strength against thedollar catalysed the domestic sentiments and sheet rubber RSS 4moved up to Rs 126 from Rs 124.50 a kg on the previous weekend.
Though the quotes from the major manufacturers were much below theprevailing rates, the market remained firm mainly on fundamentalreasons.
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Slipping supplies
News on declining supplies due to intensified monsoon rains keptthe covering groups comparatively active during the session.
The volumes were dull. In the international front, RSS 3 improvedat its June contract to 342.1 yen (Rs 136.47) from 336.9 yen, Julyto 344.3 yen (336.6), August to 344.1 yen (336.7), September to344.7 yen (336.8), October to 344.2 yen (336.4) and November to 345yen (337.6) a kg at TOCOM. The grade weakened further to Rs 139.49(Rs 140.91) a kg at Bangkok.
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Spot prices (Rs a kg) were RSS-4: 126 (124.50), RSS-5: 124(122.50), ungraded: 121.50 (119.50), ISNR 20: 125 (121) and latex60%: 86 (85).