Market on Mar 5: Spot rubber rules steady

KOTTAYAM, MARCH 5:

Physical rubber prices were almost unchanged on Monday. According to observers, the cash market managed to sustain at the prevailing levels following a firm closing on the National Multi Commodity Exchange (NMCE). The trend was partially mixed as ISNR 20 slipped marginally on buyer resistance. Volumes were dull.

Tokyo rubber futures declined tracking the fall in share prices but limited supplies and firm oil prices might lend support at lower levels. Supplies from Thailand and Malaysia have fallen significantly since late February and would tighten further in April as the countries are in their dry season.

Sheet rubber finished steady at Rs 187 a kg, according to traders. The grade weakened to Rs 186.50 (187) a kg, as quoted by the Rubber Board.

The March series improved to Rs 187.52 (185.46), April to Rs 192.45 (190.15), May to Rs 197.50 (195.21), June to Rs 199.80 (197.28), July to Rs 199.65 (198.90) and August to Rs 198.01 (197.87) a kg on the NMCE.

RSS 3 (spot) closed firm at Rs 201.12 (198.63) a kg at Bangkok. The March futures for the grade dropped to ¥320 (Rs 196.48) from ¥324.5 a kg during the day session and then to ¥317.7 (Rs 195.03) a kg in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 187 (187); RSS-5: 185 (185); ungraded: 182 (182); ISNR 20: 186 (187) and latex 60 per cent: 123 (123).

Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article2964011.ece