Rise in spot rubber prices

On Wednesday (10 March 2010), the spot rubber prices rose sharply due to supply concern followed by fresh buying and short covering as speculators remained active in the main marketing centers. Sheet rubber increased to Rs 144.50 from Rs 144 per kg. The trend was mixed as RSS 5 ended flat amidst comparatively dull volumes.

The March futures for RSS 4 rose marginally to Rs 144.12 (143.03), April to Rs 150.10 (148.17), May to Rs 153.70 (151.44) and June to Rs 156.80 (154.35) per kg on National Multi Commodity Exchange.

Spot prices (Rs/kg) were: RSS-4: 144.50 (144); RSS-5: 142.50 (142.50); ungraded: 141.50 (141); ISNR 20: 142.50 (142) and latex 60%: 94 (93.50).

(bloombergutv.com)