Spot rubber prices up with global market
Kottayam: Physical rubber prices flared up on Thursday. The market regained strength as the domestic and international futures were in extremely bullish mood on the National Multi-Commodity Exchange (NMCE) and the Singapore Commodity Exchange (SICOM).
Sheet rubber firmed up to Rs 112.50 from Rs 111.50 a kg, mainly on covering purchases. Major manufacturers stayed away from the market despite the short-supply and the absence of quantity sellers, an observer said.
RSS 3 moved up to Rs 120.12 a kg (Rs 118.27) on the SICOM. The grade (spot) gained further to Rs 119.25 a kg (118.14) at Bangkok.
Futures improve
December futures for RSS 4 improved to Rs 116.59 (Rs 114.48) and January to Rs 118.70 (Rs 116.55) a kg on the NMCE.
RSS 3 firmed up on Tokyo Commodity Exchange with the November futures rising to ¥234.5 (¥232.0) a kg (Rs 123.02); December to ¥238.8 (¥234.7) and January to ¥238.0 (¥233.3 during the day. (BL)
http://www.thehindubusinessline.com/2009/11/20/stories/2009112050591600.htm
Friday, November 20, 2009
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