Sheet rubber touches Rs 120 a kg

Sheet rubber touches Rs 120 a kg
Kottayam: Spot rubber continued to explore further highs on Wednesday. According to sources, the market moved up in tune with the gains in the domestic and international futures amidst incessant rains.

Sheet rubber improved to Rs 120 (Rs 118) a kg mainly on covering purchases. Most of the dealers and growers seemed to be waiting for even higher levels to sell their stocks and the current target of the market was projected at Rs 130 a kg for RSS 4.

Futures gain
RSS 4 flared up with December futures rising to Rs 123.50 (120.17) and January to Rs 125.72 (122.46) a kg on National Multi Commodity Exchange (NMCE). RSS 3 recovered with the December futures rising to ¥244.2 (¥242.9) (Rs 128.75), January to ¥243.5 (¥242) and February to ¥245.4 (¥243.8 a kg during the day session on Tokyo Commodity Exchange (TOCOM). The December futures closed at ¥242.8, January at ¥243.4 and February at ¥245.8 a kg during the night session. RSS 3 (spot) improved marginally to Rs 123.85 (123.65) a kg at Bangkok. But it slipped to Rs 124.05 (124.65) a kg on Singapore Commodity Exchange (SICOM). (BL)
http://www.thehindubusinessline.com/2009/11/26/stories/2009112651381600.htm

Bull run in commodities may continue
Mumbai: Spurt in prices to be driven by dollar weakness, rise in demand and low supplies. The gobal bull run in commodities is likely to continue through next year due to dollar weakness, supply restraint and, eventually, a pick-up in demand.

After plummeting in the fourth quarter of the last calendar year, commodities have performed well this year, with prices having surged by 140 per cent on supply constraints and demand. The Dow Jones UBS index is up 15 per cent over a year on Wednesday, led by a staggering 64 per cent lift in industrial metals’ prices, the latest report by Standard Chartered said. (BS)
http://www.business-standard.com/india/news/bull-run-in-commodities-may-continue/377613/