The Hindu Business Line : Rubber market stays neutral

HEAVY rains over the last 48 hours saved the spot rubber prices from a further fall on Monday. Buying at lower levels kept the market flat, but firm at Saturday's quotes.

The sentiments were neutral, as major manufacturers were inactive and the news on imports damaged the market mood. Sheet rubber closed at Rs 60.50 both at Kottayam and Kochi as on Saturday. The panic selling from traders narrowed, indicating a possibility for the market to recover after stabilising at current levels.

The rubber futures turned better, quoting the July contract at Rs 62.15 (Rs 61.86); the August contract at Rs 61.97 (Rs 61.43) and the September contract at Rs 59.49 (Rs 59.01) per kg for RSS 4. The volumes were dull with 470 lots, while the far-month October remained inactive till the end of the session.

RSS 3 was steady at Rs 64.02 a kg at Bangkok. The July futures for RSS 3 improved to 160.6 yen from 158.6 yen at TOCOM.

The spot rubber prices per kg follow: RSS-4: Rs 60.50 (Rs 60.50); RSS-5: Rs 58.25 (Rs 58.25); Ungraded: Rs 56.50 (Rs 56.25); ISNR 20: Rs 56.50 (Rs 56.50) and Latex 60 per cent: Rs 39.00 (Rs 39.00).

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