The Hindu Business Line : Firm trend in rubber continues

SATURDAY witnessed another firm closing in spot rubber prices. Sheet rubber continued to be in a new phase as it closed at Rs 71 a kg against Rs 70.50 at Kottayam and Kochi.

The widening gap between the demand and supply positions kept the market strong, while all major grades including latex recorded moderate gains on covering purchases. According to sources major manufacturers were inactive and fresh buying is reported to be meagre in the main marketing centres.

The NMCE rubber futures maintained the firm trend in the weekend session. The January contract ended at Rs 72.86 (72.61), February contract at Rs 74.00 (73.91), March contract at Rs 75.02 (74.80) and April contract at Rs 76.30 (76.01) per kg for RSS 4.

The February contract for the grade closed at Rs 74.85 against Rs 74.00 a kg on MCX.

The volumes in NMCE were quoted at 1084 lots trading 474 lots in January, 333 lots in February, 231 lots in March and 46 lots in April.

Physical prices a kg were: RSS-4: Rs 71 (70.50); RSS-5: Rs 69 (68.50);

ungraded: Rs 67 (67); ISNR 20: Rs 69 (68.75); and latex 60 per cent: Rs 49.50 (49).