The Hindu Business Line : Volumes low in rubber trade

A steady trend prevailed in the domestic spot rubber marketon Tuesday. Trading volumes declined further, as most of the market participants preferred to stay on the sidelines expecting revised quotations from major manufacturers.

Growers and dealers seemed to hold the raw material, awaiting another favourable market trend. Sheet rubber closed steady at Rs 65 a kg at Kottayam and Kochi as on Monday.

The National Multi-Commodity Exchange (NMCE) rubber futures showed a weak trend guided by sluggish international markets, including TOCOM. The December contract was traded at Rs 65.60 (65.78); January contract at Rs 66.34 (66.24); February contract at Rs 67.30 (67.40) and March contract at Rs 67.80 (67.81) per kg for RSS 4. The grade for December futures was quoted at Rs 65.25 (64.97) a kg on the Multi Commodity Exchange (MCX.) The December futures for RSS 3 declined to 193 yen from 194.5 yen at TOCOM. The grade closed higherbetter at Rs 74.04 against Rs 73.93 a kg at Bangkok.

The per kg spot rubber prices were as follows: RSS-4: 65 (65); RSS-5: 62.75 (62.75); ungraded: 60.50 (60.50); ISNR 20: 63.25 (63.25) and latex 60%: 43.50 (43.50).

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