The Hindu Business Line : Spot rubber steady

The covering groups and purchase agents were not interested to enlarge their commitments as major manufacturers had not given any green signals to procure rubber at current levels.

Though the market opened weak, the insufficient inflow failed to put pressure on prices and the market recovered from the initial losses towards mid-session.

Sheet rubber closed at Rs 54.25 at Kottayam as on Wednesday but the same grade was quoted slightly lower at Rs 54.00 in Kochi.

The NMCE rubber was firm following positive signals from the overseas markets. The delivery month January was quoted at Rs 54.00 against Rs 53.63 a kg.

The near month February contract was quoted at Rs 55.25 (Rs 54.53), March contract at Rs 56.20 (Rs 55.81) and April contract at Rs 57.40 (Rs 57.21) per kg for RSS 4.

The February futures for RSS 3 closed at 125.4 yen against 124.5 yen a kg at TOCOM.

At Bangkok, RSS 3 improved to Rs 51.74 from Rs 51.23 a kg on Wednesday.

The Thursday spot rubber rates were: RSS 4 54.25 (54.25); RSS 5 52.25 (52.25); ungraded 51.00 (51.00); ISNR 20 52.25 (52.25) and latex 60 per cent 41.00 (41.00).

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