Spot Rubber Fall Owing To Buyer Resistance - Nov 13, 2008

Kottayam: Rubber prices fell once again on November 12. RSS 4 slipped to Rs 84 from Rs 84.50 per kg on buyer resistance amidst selling from growers and dealers. Major manufacturers were buyers on the grade at the quoted level though the international futures were partially bearish.

Rubber futures on the Tokyo Commodity Exchange were weak despite a late morning rally. The market extended losses at the opening as profit booking became dominant on early trades amidst Yen's strength against dollar and declines in oil and precious metals futures. But covering purchases became active later, reflecting yen's decline against dollar. RSS 3 weakened at its November contract to ¥172.6 (Rs 87.40) from ¥175.9, February to ¥175.6 (176.5), March to ¥179 (179.5) and April to ¥181.4 (181.8) while its December futures recovered marginally to ¥172.4 (171.8) and January to ¥174.5 (174.2) a kg at TOCOM. Spot rates were (Rs/kg): RSS-4: 84 (84.50); RSS-5: 80 (82) ungraded: 78 (80); ISNR 20: 81 (81) and latex 60 per cent: 58 (58).

Spot Rubber Made A Smart Gain - June 28,2008

Kottayam: Spot rubber made a smart gain on June 27. RSS 4 went up to Rs 130 a kg from Rs 128 a kg as covering groups remained extremely aggressive on the grade during the session. Major manufactures were purchasers on sheet rubber up to Rs 128 a kg but they failed to procure the raw material as it was traded much above their preferred levels. The grade ended at Rs 139.73 (139.65) a kg at Bangkok spot. Spot prices (Rs per kg) were RSS-4: 130 (128.00) RSS-5: 127.50 (125.50) Ungraded: 125 (124) ISNR 20: 128.50 (127) and latex 60%: 88 (86.50).

Spot Rubber Declines On Global Cues - June 21, 2008

Kottayam: The physical rubber prices declined on Friday. The sentiments were badly affected by the weakness in global indices and the market made all-round declines as certain dealers and growers came forward to join the sellers queue.

RSS 4 moved down to Rs 124.50 a kg from Rs 126.50 a kg and the volumes were comparatively better. The tyre sector stayed back during the session to put further pressure on the prices.

The June contract for RSS 3 moved down further to ¥336.9 (Rs 134.47) from ¥341.2, July to ¥336.6 (340.1), August to ¥336.7 (340.1), September to ¥336.8 (340.1), October to ¥336.4 (341) and November to ¥337.6 (341) a kg at TOCOM. The grade weakened to Rs 140.91 (141.79) a kg at Bangkok spot.

Spot prices were (Rs/kg): RSS-4: 124.50 (126.50); RSS-5: 122.50 (123.50); ungraded: 119.50 (121.50); ISNR 20: 121 (122.50) and latex 60 per cent: 85 (86).

Spot Rubber Drops On TOCOM Cues - June 11, 2008

Kottayam: Spot rubber surrendered its gains on Tuesday. RSS 4 moved down sharply to Rs 126 from Rs 130 a kg at Kottayam as the rubber futures on Tokyo Commodity Exchange fell back marginally on long liquidation.

The volumes were low and the domestic market declined even without any quantity offers from dealers or growers. The market has over reacted to the minor variations in the global indices.

This might be due to unexpected absence of the major manufacturers on the buyers’ side. Covering groups could not hold the prices at higher levels for a long period of time without follow-up support from the consuming sector, an observer said.

June futures weaken

The June contract for RSS 3 weakened to ¥334.1 (Rs 134.28) from ¥337.1, July to ¥334 (336.9), August to ¥335.2 (336), September to ¥334.6 (335.7), October to ¥334.4 (335) and November to ¥336.5 (336.6) a kg at TOCOM. RSS 3 spot slipped to Rs 138.49 (139.36) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 126 (130); RSS-5: 122 (124); ungraded: 119 (120); ISNR 20: 120 (121) and latex 60 per cent: 85 (85).

Rubber Rates Fell - June 5, 2008

Kottayam: Spot rubber prices declined further on June 4. RSS 4 fell to Rs 123 a kg from Rs 124 a kg on slightly improved selling from certain dealers and growers. The grade was firm at Rs 131.66 (131.22) a kg at Bangkok spot. Spot prices were: RSS-4: 123 (124); RSS-5: 118 (119); ungraded: 113.50 (114); ISNR 20: 116 (117) and latex 60 per cent: 82 (82).

Rubber Sees Weak trend - June 3, 2008

Kottayam: Spot rubber rates ruled weak on June 2. The domestic market continued under pressure as RSS 3 spot declined sharply to Rs 132.53 (136.64) a kg at Bangkok. Sheet rubber RSS 4 declined to Rs 124 from 125 on the previous weekend. Rubber prices should remain in tandem with the international prices. Spot prices were (Rs/kg): RSS-4: 124 (125); RSS-5: 119 (121); ungraded: 113.50 (114); ISNR 20: 117 (118) and latex 60 per cent: 82 (82).

Spot Rubber Rates Flared Up Sharply

Kottayam: Spot rubber rates flared up sharply creating another life time record on Friday.

Heavy gains in global markets especially TOCOM which regained strength followed by short covering and bulls’ buying after a weak opening kept the domestic buyers under pressure during the day.

RSS 4 closed at Rs 127.50 against Rs 124.50 a kg after hitting an intraday high at Rs 128 a kg on late trading. Supply shortage has been yet another concern in the main marketing centres.

Certain major manufacturers were buyers on sheet rubber up to Rs 127 a kg but they failed to collect the raw material at those levels.

“Nobody appeared to be willing to sell their stocks may be on even higher expectations,” an observer said. “Speculative elements are still powerful and they are taking undue advantages of the increase in crude oil prices everyday”, said N. Radhakrishnan, President, Cochin Rubber MerchantsAssociation.

RSS 3 improved its May contract to ¥325.9 (Rs 134.53) from ¥317.2, June to ¥326.3 (318.5), July to ¥327.2 (318.4), August to ¥327.8 (318.5), September to ¥328.4 (319.2) and October to ¥330 (319.6) a kg at TOCOM. The grade (spot) closed higher at Rs 132.79 (131.22) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 127.50 (124.50); RSS-5: 124 (122); ungraded: 118.75 (117.50); ISNR 20: 120.50 (119.50) and latex 60 per cent: 82.50 (82.50).

Spot Rubber Made Handsome Gains

Kottayam: Spot rubber made handsome gains to settle at another lifetime high on Thursday.

Covering groups and purchase agents remained moderately active during the session procuring the sparse arrivals to maintain the prices at higher levels. Sheet rubber RSS 4 improved to Rs 124.50 from Rs 123 a kg amidst bad volumes. There were no fresh quotes from the tyre sector, sources confirmed.

RSS 3 moved up further to Rs 131.22 (Rs 130.01) a kg (spot) at Bangkok. The grade’s May contract improved to ¥317.2 (Rs 131.87) from ¥315.3, June to ¥318.5 (Rs 316.1), July to ¥318.4 (Rs 315.9), August to ¥318.5 (Rs 316.6), September to ¥319.2 (Rs 317) and October to ¥319.6 (Rs 316.9) a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 124.50 (123); RSS-5: 122 (120); ungraded: 117.50 (116.50); ISNR 20: 119.50 (118.50) and latex 60 per cent: 82.50 (82.50).

Spot Rubber Finished Steady On Tuesday

Kottayam: Spot rubber finished steady on Tuesday. The market lacked the follow-up support from major consuming sectors though there was no visible selling pressure from growers or dealers. RSS 4 closed unchanged at Rs 122.75. Traders were a bit disappointed when the Japanese markets were marginally down on early trades and a late recovery on the trendsetter failed to strengthen the domestic prices, an observer said. Sheet rubber weakened to Rs 122.25 a kg during the morning session but regained the initial losses in tune with the global gains. The market is expected to follow the international trends in near term amidst dull volumes.

May futures firm

On TOCOM, the May contract was flat at ¥316.3 (Rs 129.49) a kg while the June futures improved to ¥316.8 (¥314.9), July to ¥316.4 (¥314.1), August to ¥317 (¥314.5), September to ¥317 (¥314.6) and October futures to ¥317.6 (¥314.8) a kg for RSS 3.

Spot prices were (Rs/kg): RSS-4: 122.75 (122.75); RSS-5: 120 (120); ungraded: 116.50 (116.50); ISNR 20: 118.50 (118.50) and latex 60 per cent: 82.50 (82.50).

Spot Rubber Was Almost Steady

Kottayam: Spot rubber was almost steady except sheet rubber which lost in tandem with the international futures on Monday. RSS 4, the only loser of the day shed 25 paise to close at Rs 122.75 against Rs 123 a kg on buyer resistance.

Covering groups and purchase agents sidelined the market waiting for a positive trend to emerge from the global scene. “There was no selling pressure in the main marketing centres as prices were expected to firm up further once TOCOM recovers after a short term correction,” a trader said. “We are also expecting revised quotes from the tyre sector and it is difficult to predict a target in the absence of domestic futures which has been a major platform for rubber trading during the last five years,” he added.

RSS 3 weakened at its May contract to ¥316.3 (Rs 129.16) from ¥318.4, June to ¥314.9 (318), July to ¥314.1 (317.6), August to 314.5 (318.3), September to 314.6 (317.1) and October to ¥314.8 (318) a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 122.75 (123); RSS-5: 120 (120); ungraded: 116.50 (116.50); ISNR 20: 118.50 (118.50) and latex 60 per cent: 82.50 (82.50).

Spot Rubber Increased

Kottayam: Spot rubber increased creating yet another historic high on May 16. A bullish closing in global rubber prices helped the domestic market to regain strength and sheet rubber RSS 4 ended better at Rs 121 against Rs 120 a kg on May 15. The grade (spot) increased to Rs 128.06 (127.18) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 121 (120); RSS-5: 118.50 (118); Ungraded: 116 (115); ISNR 20: 117.50 (116.50) and latex 60%: 82.50 (82.50).

Spot Rubber Upward Trend

Kottayam: Spot rubber bounced back on Wednesday. RSS 4 moved up to Rs 120 from Rs 118.50 a kg ridden by firm international markets.

Certain major manufacturers were also buyers on sheet rubber at the quoted rates, sources confirmed. Technically, a break above this level is expected to trigger yet another sharp bull run.

The market might have reached higher targets during these most bullish days if the domestic futures would not have been suspended, an observer said.

Unimpressive volume

The volumes were not so impressive lacking quantity sellers in the main marketing centres. RSS 3 (spot) rose sharply to Rs 127.04 (124.58) a kg at Bangkok. Its May contract improved to ¥316.2 (Rs 127.56) from ¥314.4 a kg and June to ¥316.1 (Rs 127.55) from ¥314.6 a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 120 (118.50); RSS-5: 118 (116); ungraded: 115 (114.50); ISNR 20: 116.50 (114.50) and latex 60 per cent: 82.50 (81.50).

Spot Rubber Moves Up

Kottayam: Spot rubber rates moved up catalysed by another bright closing in global indices on Tuesday. RSS 4 improved to Rs 118.50 a kg from Rs 118 as covering groups and purchase agents were fairly active on the grade. There were no revised quotes from the major manufactures.

“The market is poised to explore new highs. There is much difference between domestic and international rubber and traders would possibly feel more safe to be in the buyers queue ” an analyst told Business Line. “Since growers are more conscious about the global price charts, the market might not witness any panic selling during intermediate corrections ” he added.

RSS 3 firmed up to Rs 124.58 (123.31) a kg (spot) at Bangkok.

May futures up

The May contract flared up to ¥314.4 (Rs 127.88) from ¥308 a kg while the grade’s June futures closed higher at ¥314.6 (Rs 127.96) against ¥308.8 a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 118.50 (118); RSS-5: 116 (115.50); ungraded: 114.50 (113.50); ISNR 20: 114.50 (114) and latex 60 per cent: 81.50 (81.50).

Spot Rubber Stays Firm

Kottayam: Physical rubber market ruled firm on Monday. Traders were still optimistic on the commodity expecting revised quotes from the major consuming sector as the international prices ruled much above the domestic rates. The inflow was much low and the market suffered from acute short supply.

RSS 4 improved to Rs 118 from Rs 117 a kg and the sentiments were visibly bullish on strong demand. “We expect the market to remain firm in near term riding on strong fundamentals though there would be healthy gap between the national and international prices. There was a time when the average grower had been totally ignorant about the global price movements. Things are quite different now”, said Mr. George Mathew, a planter.

Global price

In the international scene, RSS 3 improved marginally at it’s May contract to ¥308 (Rs 125.06) from ¥306.9 a kg while the June futures slipped to ¥308.8 (Rs 125.51) from ¥309 a kg at TOCOM. The grade (spot) closed at Rs 123.31 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 118 (117); RSS-5: 115.50 (115); ungraded: 113.50 (113); ISNR 20: 114 (113) and latex 60 per cent: 81.50 (81.50).

Spot Rubber Continued Its Upward Journey

Kottayam: Spot rubber continued its upward journey on Wednesday. RSS 4 improved to Rs 120 a kg from Rs 119 0 a kg at Kottayam and Kochi as major international indices shot up catalysed by firm oil and precious metal futures.

According to observers, supply concerns kept the domestic buyers aggressive and the prices are expected to remain firm in the immediate future on strong fundamentals. RSS 3 (spot) moved up to Rs 119.28 from Rs 116.63 a kg at Bangkok. The June futures for the grade improved to ¥307 (Rs 120.73) from ¥300 a kg at TOCOM.

Futures weak

The rubber futures turned weak on NMCE. The May contract slipped to Rs 120 (Rs 120.94), June to Rs 117.64 (Rs 118.71), July to Rs 114.10 (Rs 115.26) and August to Rs 110.39 (Rs 111.07) per kg for RSS 4. Spot prices (Rs a kg) were: RSS-4: 120 (119); RSS-5:118 (117.50); ungraded: 115 (114.50); ISNR 20: 117 (116.50) and latex 60% : 81 ( 80).

Mixed Trend In Spot Rubber

Kottayam: Spot rubber witnessed a mixed trend on Tuesday. RSS 4 ended flat at Rs 117 a kg at Kottayam, though the grade touched an intra-day low at Rs 116 a kg on early trades, while it was quoted at Rs 117.25 a kg at Kochi.

Covering groups remained active on sheet rubber on late trades as there were no quantity sellers even at higher levels. Prices declined for most of the remaining grades on buyer resistance.

In the international market, RSS 3 (spot) slipped by 38 paise to Rs.114.81 a kg at Bangkok.

Futures improve

On NMCE, the May futures improved to Rs 117.51 (117.21), June to Rs 115.70 (115.01) and July futures to Rs 111.25 (110.73) per kg while the August futures slipped further to Rs 108.40 (108.79) a kg for RSS 4.

The open interest stood at 4,138 (4,093) tonnes. The volumes fell to 1,770 (2,860) lots transacting 863 (1,299) lots in May, 809 (1,168) lots in June 57 (294) lots in July and 41 (99) lots in August.

Spot prices were (Rs/kg): RSS-4: 117 (117); RSS-5: 115 (116); ungraded: 113 (114); ISNR 20: 114.50 (115) and latex 60 per cent: 78.50 (78.50).

Positive Closing On Monday Of Spot Rubber

Kottayam: Spot rubber made another positive closing on Monday. RSS 4 finished better at Rs 117 and Rs 118 a kg respectively at Kottayam and Kochi against Rs 116.50 a kg on the previous weekend.

According to informed sources, the grade hit an all time high at Rs119 a kg at Kottayam during the session as covering groups remained extremely aggressive anticipating further rice in prices. But the rates failed to sustain as speculators stayed back on late trading possibly triggering a technical correction at higher levels.

The May futures for RSS 3 firmed up to ¥298.4 (Rs 114.06) a kg from ¥293.5 at TOCOM. Rubber turned weak towards close after a firm start on NMCE. The May futures slipped to Rs.116.65 (116.96), June to Rs 114.60 (115.74), July to Rs 110.50 (111.02) and August futures to Rs.108.62 (109.32) per kg for RSS 4.

Spot prices (Rs a kg) were: RSS-4: 117 (116.50); RSS-5:116 (115); ungraded:114 (112.50); ISNR 20:115 (114); and latex 60%:78.50(77.00).

Spot Rubber Prices Hit Rs 115 A Kg

Kottayam: The domestic rubber made sharp gains on Friday. According to observers, the market appeared to be moving under the control of speculators who were taking advantage of the fundamental and technical position amidst short supply. Major manufacturers were not active above Rs 111.50 a kg but covering groups continued to lift the prices to yearly highs which stood even above the global rates.

In spot RSS 4 flared up to Rs 115 and Rs 115.50 a kg respectively at Kottayam and Kochi from Rs 113 a kg and the market made all round gains on better demand. RSS 3 improved at its May futures to 293.5 Yen (Rs 112.81) a kg from 287.8 Yen at TOCOM. RSS 3 spot firmed up to Rs 113.96 (113.65) a kg at Bangkok.

Futures move up

The rubber futures moved up further on NMCE. The May futures downed the shutters at Rs 116.45 (114.25), June at Rs 115 (113.04), July at Rs 111.30 (110.51) and August futures at Rs 109.30 (108.71) a kg for RSS 4. The volumes were better at 2,820 (2,136) tonnes transacting 1,280 (1,147) tonnes in May, 1,195 (744) tonnes in June 266 (181) tonnes in July and 79 (64) tonnes in August.

Spot prices were (Rs/kg): RSS-4: 115 (113); RSS-5: 113 (111); ungraded: 112 (109.50); ISNR 20: 112.50 (110) and latex 60 per cent: 76.50 (75).

Spot Rubber Gains On Global Cues

Kottayam: Rubber prices remained bullish on Thursday. In the physical front, RSS 4 firmed up to Rs 113 from Rs 112.50 a kg at Kottayam and Kochi as the domestic and international rubber futures ended in a positive note. The trend was mixed as RSS 5 and ISNR 20 closed flat amidst narrow volumes. The May futures for RSS 3 improved to ¥287.8 (Rs 111.40) from ¥285 a kg at TOCOM. The grade closed at 113.65 (113.38) a kg at Bangkok.

Futures gain

On NMCE, the May futures moved up sharply to Rs 114 (111.94), June to Rs 113.15 (110.95), July to Rs 110.26 (109) and August to Rs 108.98 (107.37) a kg for RSS 4.The open interest stood at 3,703 (3,482) tonnes with 1,965 (1,867) tonnes in May, 1,068 (1,006) tonnes in June, 545 (514) tonnes in July and 125 (95) tonnes in August. The volumes rose to 2,136 (1,615) lots trading 1,147 (934) lots in May, 744 (469) lots in June 181 (164) lots in July and 64 (48) lots in August.

Spot prices were (Rs/kg): RSS-4: 113 (112.50); RSS-5: 111 (111); ungraded: 109.50 (109); ISNR 20: 110 (110) and latex 60 per cent: 75 (75).

Spot Rubber Firms Up Further

Kottayam: Spot rubber rates firmed up further on Wednesday. RSS 4 closed at Rs 112.50 against Rs 112 a kg at Kottayam and Kochi as covering groups turned active followed by another better closing in global futures. The domestic supply concerns kept the buyers on alert but the volumes were low lacking quantity sellers, sources said. RSS 3 was steady at Rs 113.38 a kg at Bangkok.

Futures mixed

The rubber futures showed a mixed mood on NMCE. The May futures finished at Rs 111.98 (111.73), June futures at Rs 110.98 (111.18), July at Rs 109 (108.92) and August at Rs 107.40 (107.13) a kg for RSS 4. The open interest slipped to 3,482 (3,523) tonnes with 1,867 (1,981) tonnes in May, 1,006 (1,026) tonnes in June, 514 (443) tonnes in July and 95 (73) tonnes in August. The volumes improved to 1,615 (1,303) tonnes.

Spot prices were (Rs/kg): RSS-4: 112.50 (112); RSS-5: 111 (109.50); ungraded: 109 (108); ISNR 20: 110 (108.50) and latex 60 per cent: 75 (74.50).