The Hindu Business Line : Rubber steady on moderate demand

RUBBER rates were almost steady on Monday. The only gainer of the day was ungraded rubber, which improved by 50 paise to Rs 57 a kg on enquiries from non-tyre sector and north Indian buyers.

Moderate demand and lack of supply kept the market firm throughout the session though a fresh uptrend was not initiated possibly on buyer resistance due to slightly weak overseas reports. Sheet rubber RSS 4 remained static at Rs 58.50 a kg as on Saturday.

The NMCE futures moved down following a weak TOCOM closing. The May contract was traded at Rs 59.80 (Rs 60.52), June contract at Rs 62.00 (Rs 62.48), July contract at Rs 63.01 (Rs 63.39) and August contract at Rs 63.00 (Rs 63.26) per kg for RSS 4.RSS 3 closed steady at Rs 57.42 a kg at Bangkok.The May futures for RSS 3 at TOCOM slid to 141.5 yen a kg from 142.5 yen on Friday.

The spot rubber rates per kg were: RSS-4 : Rs 58.50 (Rs 58.50); RSS-5: Rs 57.50 (Rs 57.50); Ungraded: Rs 57.00 (Rs 56.50); ISNR 20: Rs 57.00 (Rs 57.00); and Latex 60%: Rs 40.00 (Rs 40.00).

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