The Hindu Business Line : Rubber prices rule steady

SPOT rubber closed steady on Tuesday. Though the selling from dealers and growers improved considerably prior to Onam, all-round buying from major sectors helped the prices to sustain at current levels.

Bearish reports from the global scene failed to create any impact in the market but RSS 5 lost marginally on buyer resistance and better supply. Sheet rubber remained flat at Rs 60 a kg both at Kottayam and Kochi as on Monday.

The NMCE rubber fell sharply following a crash in international futures. The September delivery contract was quoted at Rs 61 (61.29), October at Rs 58.68 (59.49), November at Rs 57 (Rs 57.69) and December contract at Rs 57.25 (57.92) a kg for RSS 4.

Total transactions till noon stood at 1,707 lots - 93 lots in September, 1,399 lots in October, 99 lots in November and 116 lots in December.

The October futures for RSS 3 lost heavily by 6 yen to close at 178.2 yen against 184.2 yen a kg at TOCOM while the same grade declined to Rs 74.90 from Rs 75.44 a kg at Bangkok.

The physical rubber prices were: RSS 4: Rs 60 (60); RSS 5: Rs 58.25 (58.50); ungraded: Rs 55.50 (55.50); ISNR 20: Rs 59 (59) and latex 60%: Rs 39.50 (39.50)

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