Physical delivery of rubber up 263% on NMCE

News- National

Physical delivery of rubber up 263% on NMCE
The National Multi Commodity Exchange reported a 263 per cent increase in its physical delivery of rubber at 1,559 tonnes in February from 430 tonnes in January. The main reason for the surge in delivery was an increase in demand from the rubber consuming industry and multi-delivery centres of exchange certified warehouse of the Central Warehousing Corporation (CWC), according to a press release.

Healthy trend
“This is a very healthy trend because on one hand producers are able to harness good price and deliver their rubber in the exchange warehouse and on the other hand the user industry is able to hold the position by just paying margin money and take delivery by paying full only on the date of delivery. Quality of rubber is also being maintained by scientific storage in quality godowns of the CWC,” said Mr Anil Mishra, Chief Executive Officer, NMCE.

The rubber futures contract expires on the 15th of every month. The delivery took place at the NMCE-registered warehouse of the CWC in Aluva, Ernakulum, Kakkanad, Palakkad, Kozhikode, Kottayam and Thrissur. (B.L)

Fresh buying spurs spot rubber prices
The domestic rubber market showed a better trend on Tuesday. On the spot market, sheet rubber increased to Rs 138 from Rs 136 a kg on fresh buying and short covering. Smart gains on NMCE and the continuation of a favourable mood in TOCOM combined to support the prices though major manufacturers were not visibly active in the main marketing centres. Supply concerns and the absence of sellers were the other decisive factors which influenced the buyers' sentiments during the day.

Futures improve

The March futures for RSS 4 improved to Rs 142.99 (139.09), April to Rs 147.44 (143.15) and May futures to Rs 151 (146.69) a kg on the National Multi Commodity Exchange (NMCE). The February futures firmed up to ¥276.5 (¥274.5) (Rs 142.01), March to ¥277.8 (¥275.8), April to ¥280.3 (¥277.8) and May to ¥282.8 (¥279.8) a kg for RSS 3 during the day session on Tokyo Commodity Exchange. . RSS 3 slipped to Rs 143.71 (143.80) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 138 (136); RSS-5: 135.50 (133); ungraded: 134 (132); ISNR 20: 134 (132.50) and latex 60 per cent: 90 (89). (B.L)