The Hindu Business Line : Rubber prices firm on scattered sales

SPOT rubber prices closed firm on Saturday. Though arrivals at the main marketing centres were reported to have increased considerably from Friday noon, dealers were in no hurry to sell, as they preferred to hold the stocks expecting a firm opening on Monday.

Since the international indices hover above the bullish orbit, traders expect domestic prices to stay in tune with the trend though temporary corrections might put pressure on the prices in between.

Meanwhile, sensing the attitude of major manufacturers, covering groups absorbed the scattered selling from traders but they were not willing to offer enhanced quotes at the weekend session.

Sheet rubber closed at Rs 68.75 and Rs 68.50 a kg respectively at Kottayam and Kochi as on Friday.

Rubber futures firmed up with NMCE December contract closing at Rs 69.92 (68.69), January contract at Rs 69.91 (69.47), February at Rs 71.21 (70.67) and March at Rs 71.58 (70.96) per kg for RSS 4. The December contract for RSS 4 ended at Rs 69.40 against Rs 68.05 a kg on MCX. The transactions were in a very low key.

Spot prices a kg were: RSS-4: Rs 68.75 (68.75); RSS-5: Rs 66.50 (66.50);

ungraded: Rs 64.50 (64.50); ISNR 20: Rs 66.25 (66.25) and latex 60 per cent: Rs 47 (47).