Archive for August 7th, 2010

Physical Rubber Shows Mixed Trend on Friday

Physical rubber showed a mixed trend on Friday, the market was a bit apprehensive with the import news and took cautious approach. Meanwhile, the Rubber Board has reported that the natural rubber production in the country was picking up and the production during April-July 2010 was 223250 tonnes compared with 209575 tonnes in the previous year.

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Spot price for RSS-4 variety remained unchanged at Rs 189 while RSS-5 closed at Rs 179.50 compared to its previous closing of Rs 180.

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In the futures market for August delivery for RSS 4 improved to Rs 190.50 compared to its previous closing of Rs 189.99 while the September delivery closed at Rs 176.95 compared to its previous closing of Rs 175.56 on the National Multi Commodity Exchange.

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Whereas Copper prices decline for the second straight day on Friday

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Copper prices pared their early gains to close lower for the second-straight day on Friday, on getting disappointing employment data from the United States, the investors got concerned about a slowing economic recovery. Though, some pullback was seen with decline in energy markets putting the near-term demand prospects for the red metal bright.

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Copper for September delivery closed lower by 1.05 cents to finish at $3.3430 per lb, after trading in a range of $3.3250 and $3.38 on the Comex metals division of the New York Mercantile Exchange. On the London Metal Exchange, benchmark copper shed $30 to close at $7,370 a tonne.

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