Sheet rubber improves further

Sheet rubber improves further
Kottayam: Physical rubber prices flared up on Friday. According to observers, major manufacturers continued to sideline the market but the prices moved up as covering groups remained active buyers in the main marketing centres.

Sheet rubber improved further to Rs 131 from Rs 129.25 a kg, led mainly by the domestic and international rubber futures. “Demand for rubber is high in the domestic market now. Consumption is higher than the production,'' according to Prof. Mr K.K Abraham, President of Indian Block Rubber Processors Association. “Consumer has no role in deciding the price trends. It mainly depends on the growers and speculators. Under the circumstances the current buoyancy visible in the domestic market is most likely to continue in the days ahead,” he said.
Futures firm
The December futures for RSS 4 firmed up further to Rs 132.35 (131.76) and January to Rs 134 (133.94) while the February futures slipped to Rs 135.90 (135.97) and March to Rs 137.98 (138.11) a kg on National Multi Commodity Exchange (NMCE). RSS 3 gained marginally with the December futures rising to ¥250 (¥249.4) (Rs 131), January to ¥252.3 (¥250), February to ¥254.2 (¥252.9) and March to ¥256.2 (¥254) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 improved to Rs 130.93 (130.48) a kg on Singapore Commodity Exchange (SICOM). The grade closed firm at Rs 131.41 (129.02) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/05/stories/2009120552251600.htm