The Hindu Business Line : Rubber firms up on low arrivals

THE spot rubber market improved on Monday. According to analysts, the scarcity of rubber pushed up the prices as buyers were most active. ISNR 20 remained strong on export buying, while ungraded rubber moved up on north Indian enquiries.

Covering groups and purchase agents procured the narrow arrivals expecting better quotes from the tyre sector. Sheet rubber closed at Rs 62.00 and Rs 61.75 respectively at Kottayam and Kochi against Rs 60 a kg on Friday.

The rubber futures weakened as reports from the overseas markets were extremely bearish. The October contract was quoted at Rs 61.85 (Rs 62.66), November at Rs 60.50 (Rs 60.84), December at Rs 60.05 (Rs 60.50) and January at Rs 60.20 (Rs 60.62) per kg for RSS 4.

The transactions totalled 1,465 lots trading 748 lots in October, 500 (November), 113 (December) and 104 (January) till mid-session.

RSS 3 lost 22 paise to close at Rs 75.22 a kg at Bangkok. The grade moved down sharply to 185 yen from 190 yen a kg at TOCOM. The per kg spot rubber rates were: RSS-4: Rs 62 (Rs 61); RSS-5: Rs 59.50 (Rs 59); ungraded: Rs 58.50 (Rs 56); ISNR 20: Rs 61 (Rs 60) and latex 60 per cent: Rs 41(Rs 40).

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