The Hindu Business Line : Rubber steady on scattered trading

THE second day of the week witnessed another steady closing on scattered buying and selling in all major grades. Quantum buyers were absent from main marketing centres.

According to an analyst, the demand and supply ratio appeared balanced as the prices stayed in a narrow range for the last few days. The market indicator RSS 4 was moving in between Rs 52 and Rs 55 since the beginning of the year and a break above or below the said-level might be the next major trend deciding factor in the spot market.

The volumes were not very impressive but small sectors continued to absorb the arrivals to fulfil their minimum requirements. Growers and major stock holding traders appeared calm and confident about a stable and firm trend ahead. The NMCE rubber futures continued to the weakness on Tuesday. The February contract was quoted at Rs 53.40 (53.55), March contract at Rs 54.60 (54.68), April contract at Rs 56.45 (56.65) and May at Rs 57.62 (57.78) per kg for RSS 4.

The physical rubber rates per kg were: RSS-4: Rs 52.50 (52.50); RSS-5 Rs 51.50 (51.50); ungraded: Rs 50 (50); ISNR 20 Rs 51.50 (51.50); latex 60 per cent Rs 40 (40).

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