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Our Correspondent

Kottayam , Feb. 17

A FIRM closing in international futures rescued the domestic spot rubber on Friday. Covering purchases helped the market to recover while the selling from dealers narrowed amidst dull arrivals.

Sheet rubber improved to Rs 79from Rs 78a kg at Kottayam but remained flat at Rs 78.50 a kg at Kochi. According to an analyst, the market might stabilise somewhere between Rs 75and Rs 80a kg for RSS 4 and the uptrend is expected to gain strength when the availability of the raw material dips further in March.

NMCE March contract closed at Rs 81.40 (Rs 80.99), April at Rs 83.71 (Rs 82.96), May at Rs 86.03 (Rs 85.15) and June at Rs 87.15 (Rs 86.30) per kg for RSS 4.

The May contract for the grade was traded at Rs 85a kg against Rs 84.88 on the MCX.

The March futures for RSS 3 firmed up by 79 paise to 237.1 yen (Rs 89.34) from 235 yen a kg at TOCOM. The grade closed better at Rs 89.78 against Rs 89.54 at Bangkok spot.

The spot rubber prices per kg were: RSS-4: Rs 79(Rs 78); RSS-5: Rs 77.75 (Rs 77); ungraded: Rs 76.25 (Rs 76); ISNR 20: Rs 77.50 (Rs 77) and latex 60 per cent: Rs 56.50 (Rs 56).

More Stories on : Rubber

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