The Hindu Business Line : Rubber prices move up sharply

SPOT rubber prices moved up sharply on Monday. Continuous overnight rains and the bullish overseas markets including TOCOM, Osaka and SICOM prompted the buyers to chase the narrow arrivals. Major manufacturers and exporters were also active with moderate purchases.

The NMCE futures recorded smart gains in all delivery contracts as rumours on an acute shortage of the raw material hit the market circles on Monday. The September contract was quoted at Rs 61.77 (60.23), October at Rs 60.78 (59.32), November at Rs 59.90 (58.38) and December contract at Rs 59.99 (58.75) per kg for RSS 4. The October futures for RSS 3 closed better at 184.1 yen against 180.6 yen a kg at TOCOM.

Rubber spot rates a kg were as follows: RSS-4: Rs 60 (58.50); RSS-5: Rs 56.50 (55); ungraded: Rs 55 (53.50); ISNR 20: Rs 56.50; (54.50) and latex 60 per cent: Rs 39 (38.50).

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