The Hindu Business Line : Rubber bounces back

RUBBER prices bounced back on Friday. Covering groups and purchase agents began to chase the arrivals expecting the market to firm up towards the weekend. Sheet rubber improved to Rs 64.50 and Rs 65 from Rs 64 and Rs 64.25 a kg respectively at Kottayam and Kochi.

Export buying continued to add strength to ISNR 20 while the other grades also gained on moderate enquiries from the general rubber goods sector and north Indian buyers. Certain tyre companies were also active in the market procuring sheet rubber at the prevailing rates.

Rubber futures turned better in NMCE quoting the October contract at Rs 65.41 (64.82), November at Rs 63.70 (63.49), December at Rs 62.90 (62.63) and January at Rs 63.30 (63.21) per kg for RSS 4. The transactions till noon improved to 1,307 lots trading 561 lots in October, 491 lots in November, 173 lots in December and 82 lots in January. The October delivery for RSS 4 was quoted at Rs 65.45 against Rs 65.02 a kg in MCX.

RSS 3 spot lost 32 paise to close at Rs 75.28 a kg at Bangkok. Its November futures slipped to 195.2 yen from 195.4 Yen a kg at TOCOM.

Spot prices a kg were: RSS-4: Rs 64.50 (64); RSS-5: Rs 63 (62.75); ungraded: Rs 61 (60.50); ISNR 20: Rs 63.50 (63) and latex 60 per cent: Rs 43 (43).

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