Market on Feb 9: Latex gains further on renewed buying

Market on Feb 9: Latex gains further on renewed buying
February 9, 2012




KOTTAYAM, FEB. 9:

Spot rubber continued to rule steady on Thursday. The market lost its direction as it lacked active traders on either side to set a definite trend. Meanwhile, latex 60 per cent improved further on fresh buying along with export news amidst low supply. Transactions were dull.

Sheet rubber was unchanged at Rs 189.50 a kg, according to traders. The grade finished steady at Rs 189 a kg both at Kottayam and Kochi, according to the Rubber Board.

In futures, the February series increased to Rs 191.95 (190.48), March to Rs 195.10 (193.48), April to Rs 202 (200.30), May to Rs 205.18 (203.70), June to Rs 206 (204.63) and July to Rs 206 (205.02) a kg for RSS 4 on the National Multi Commodity Exchange.

RSS 3 (spot) firmed up to Rs 203.28 (202.44) a kg at Bangkok. The February futures for the grade dropped to ¥306 (Rs 195.90) from ¥311 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 189.50 (189.50); RSS-5: 185.50 (185.50); ungraded: 182 (182); ISNR 20: 187.50 (187.50) and latex 60 per cent: 127 (125.50).