The Hindu Business Line : Rubber gains on moderate buys

RUBBER prices gained on Tuesday on moderate purchases by the covering groups and purchase agents to fulfil their commitments. Sellers, who were reluctant to release the stock at lower levels, kept off following a mild recovery in the world markets.

Sheet rubber RSS 4 improved to Rs 58.50 from Rs 58.25 a kg. At Bangkok, RSS 3 closed at Rs 59.92 against Rs 59.75 a kg and the TOCOM May features for the same grade was better at 143.5 yen from 141.1 yen on Monday.

The futures market also showed signs of recovery on Monday. The near month May delivery was quoted at Rs 58.20 (58.08), June delivery at Rs 59.20 (59.08), July delivery at Rs.59.15 (59.13) and August delivery at Rs 58.80 (59.03) per kg for RSS 4. Volumes were moderate.

The spot market rates per kg on Tuesday were as follows: RSS 4 58.50 (58.25); RSS 5 57.50 (57); ungraded 56.50 (56.25); ISNR 20 57 (56.25); latex 60 per cent 43.50 (43).