The Hindu Business Line : Spot rubber rules firm

A firm closing was observed in spot rubber prices on Saturday. Covering groups were active in the main marketing centres inspired by the re-entry of major manufactures after an interval. The weekend session did not witness any selling pressure from traders or growers.

The news on fresh rubber imports failed to create any immediate impact on the market. Sheet rubber improved to Rs 79 and Rs 79.25 a kg respectively at Kottayam and Kochi from Rs 78.50 and Rs 79 a kg on Friday. The market seemed to be looking forward for a better opening in overseas futures especially TOCOM on Monday.

FUTURES STEADY

The NMCE rubber futures remained almost steady in the absence of overseas guidance. The March contract closed at Rs 78.63 (78.76), April contract at Rs 81.80 (81.76), May contract at Rs 84.70 (84.57) and June contract at Rs 86.20 (86.08) per kg for RSS 4.

According to market circles, the domestic futures is expected to improve after the expiry of the March contracts next week.

The transactions of the day totalled 840 lots with 137lots in March, 138 lots in April, 381 lots in May and 184 lots in June.

Spot prices a kg were: RSS-4: Rs 79 (Rs 78.75); RSS-5: Rs 78 (Rs 77.50);

ungraded: Rs 76.50 (Rs 76.50); ISNR 20: Rs 77.75 (Rs 77.25) and

latex 60 per cent (per litre): Rs 55.50 (Rs 55).