The Hindu Business Line : Rubber prices flare up further

SPOT rubber prices flared up further on Saturday. Though the trend was mixed as ISNR 20 and latex remained unchanged on buyer resistance, the remaining grades moved up on fresh buying and short covering.

Sheet rubber closed at Rs 65.25 a kg against Rs 64.50 and Rs 65.00 respectively at Kottayam and Kochi. The covering groups and purchase agents continued to offer better quotes as the arrivals to the main marketing centres were extremely narrow.

The NMCE rubber futures showed a weak trend except for its October delivery contract that closed at Rs 65.99 a kg against Rs 65.51 on Friday. The November contract closed at Rs 63.78 (63.92), December at Rs 62.99 (63.04) and January contract at Rs 63.23 ( 63.43) per kg for RSS 4.

The volumes totalled at 1411 lots with 584 lots in October, 528 lots in November, 167 lots in December and 132 lots in January. The October delivery for RSS 4 was quoted at Rs 65.40 against Rs 65.35 a kg in MCX.

Physical prices Rs a kg were: RSS-4: 65.25 (64.50); RSS-5: 64 (63); ungraded:62 (61); ISNR 20: 63.50 (63.50); and latex 60% : 43 (43).

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