The Hindu Business Line : Spot prices rule steady

RUBBER prices were steady on Thursday. Though the buyers preferred to keep off, market continued to remain firm as sellers were confident to get better quotes in the days ahead.

RSS 4 closed steady at Rs 64 a kg at Kottayam but improved by 25 paise to Rs 64.25 a kg at Kochi.

According to certain growers, the production is still low and the arrivals might continue to be meagre at least for a short term. The prices were expected to remain firm till November due to the low availability of the raw material, an analyst said.

Meanwhile, latex 60 per cent improved by 50 paise on short supply.

The NMCE rubber turned weak as overseas futures were dull. The October contract was quoted at Rs 64.50 (64.68), November Rs 63.30 (63.28), December Rs 62.40 (62.72) and January at Rs 63.01 (63.25) per kg for RSS 4.

The volumes till noon declined further to 737 lots with 289 lots in October, 316 in November, 77 in December and 55 lots in January. In MCX, RSS 4 was traded at Rs 64.60 against Rs 64.52 a kg on Wednesday.

The November futures for RSS 3 declined to 195.4 yen a kg from 196.6 yen at TOCOM. It firmed up by 70 paise to Rs 75.60 a kg at Bangkok spot.

Physical rubber prices were : RSS-4: 64 (64); RSS-5: 62.75 (62.75); ungraded: 60.50 (60.50); ISNR 20: 63 (63); and latex 60 per cent: 43 (42.50)

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