The Hindu Business Line : Spot rubber rules firm

The week finished with a firm closing in physical rubber prices. Covering groups started procuring the arrivals as the main marketing centres were reported to be suffering from short supply. There were no quantum sellers as the producing sector began to hold the stocks.

Sheet rubber RSS 4 moved up to Rs 80.00 and Rs 80.25 a kg respectively at Kottayam and Kochi from Rs 79.50 and Rs 79.75 a kg on Friday. All grades including latex gained on fresh buying and short covering expecting a better opening next week.

FUTURES IMPROVE

The rubber futures improved further in a rather optimistic trading on NMCE. The near month April delivery contract closed at Rs 82.48 (Rs 82.12), May contract at Rs 84.91 (Rs 84.49), June contract at Rs 86.49 (Rs 86.11) and July contract at Rs 87.06 (Rs 86.85) per kg for RSS 4.

The total transactions were quoted at 866 lots with 216 lots in April, 403 lots in May, 178 lots in June and 69 lots in July.

No transactions were recorded on MCX.

The spot rubber prices per kg on Saturday follow: RSS-4 : Rs 80.00 (Rs 79.50); RSS-5 : Rs 79.25 (Rs 78.50); Ungraded : Rs 78.50 (Rs 78.00) ISNR 20 : Rs 79.00 (Rs 78.25) and Latex 60 per cent (per litre): Rs 56.50 (Rs 56.00).