The Hindu Business Line : Rubber prices rule steady

Market activities were on a low-key in the absence of fresh news and trend setting factors, while a majority of the grades were static in a rather dull trading session. RSS 4 lost marginally to close at Rs 64 in Kottayam on buyer resistance. The grade closed steady at Rs 64 a kg at Kochi as on Tuesday.

According to sources, traders are waiting for intensified monsoon showers before making any fresh commitments.

NMCE rubber futures showed a mixed trend with minor variations on either side amidst an almost steady closing at TOCOM. The June contract was quoted at Rs 64 (Rs 64.12), July contract at Rs 65.22 (Rs 65.17), August contract at Rs 62.90 (Rs 62.67) and September contract at Rs 60.01 (Rs 60.02) per kg for RSS 4. The volumes were better in July futures with 138 lots till mid-session.

At TOCOM, the July futures for RSS 3 closed at 159.1 Yen a kg against 159 Yen. The grade moved up to Rs 63.56 from Rs 63.45 a kg at Bangkok.

The physical rubber prices per kg on Wednesday follow: RSS-4: Rs 64.00 (Rs 64.50); RSS-5: Rs 62 (Rs 62); ungraded: Rs 60 (Rs 60); ISNR 20: Rs 58.50 (Rs 58.50) and latex 60 per cent: Rs 41 (Rs 41).

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