The Hindu Business Line : Rubber rises on moderate purchases

RUBBER rates flared up on moderate purchases from the covering groups. Sheet rubber RSS 4 closed at Rs 54 a kg against Rs 53 on Thursday. ISNR 20 and latex remained unchanged on buyer resistance.

Major buyers, including the exporters, did not evince much interest in the market on Friday. RSS 3, which is the equivalent of RSS 4 in the domestic market, improved to Rs 59.96 at Bangkok from Rs 59.34 a kg on Thursday. Arrivals dipped as growers were reluctant to sell their produce at current levels.

The futures market appeared weak on Friday. The near month December delivery was quoted at Rs 57.19 (Rs 58.19), January delivery at Rs 59 (Rs 59.59) and February delivery at Rs 61(Rs 61.78) per kg for RSS 4. The market opened almost steady but weakened subsequently in the absence of follow up support from traders.

The Friday spot market rates per kg were as follows: RSS 4 Rs 54 (Rs 53); RSS 5 Rs 51 (Rs 50.50); ungraded Rs 50 (Rs 48.50); ISNR 20 Rs 52 (Rs 52); latex 60 per cent Rs 41.50 (Rs 41.50).

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