The Hindu Business Line : Rubber pares gains on profit booking

THE domestic rubber prices firmed up further on Thursday. The market opened strong, quoting RSS 4 at Rs 60 a kg, but profit booking emerged at higher levels. This pruned the initial gains and the grade closed at Rs 59.75 against Rs 59.50 a kg at Kottayam and Kochi.

Major manufactures were not interested in increasing their commitments at the prevailing rates, while latex continued to close steady in the absence of fresh enquiries.

The rubber futures turned weak, reacting to negative signals from overseas markets.

The May contract was quoted at Rs 60.20 (60.76), June at Rs 62.28 (62.73), July at Rs 63.24 (63.74) and August at Rs 62.90 (63.20) a kg for RSS 4. The transactions were in a low key.

Spot market rates per kg were: RSS 4: 59.75 (59.50); RSS 5: 58.75 (58.25); ungraded: 58 (57.50); ISNR 20: 58.25 (57.75) and latex 60 per cent: 40 (40).

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