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Aravindan

Kottayam , April 17

The week opened with a sharp spurt in spot rubber prices. The covering groups and purchase agents procured the meagre arrivals, as growers and traders continued to hold the stocks.

Revised quotes from tyre sector are awaited by the players before lifting the prices to further. But a delay in the re-entry of the major manufacturers might trigger some selling pressure and the market may fall in to a corrective phase before the next take off.

The pre-monsoon rains continued to stimulate production. This might also improve the arrivals marginally, putting further pressure on the prices.

RSS 4 gained sharply to Rs 86.50 and Rs 85.25 a kg respectively at Kottayam and Kochi from Rs 85.50 while the remaining grades followed suit.

FUTURES WEAK

The rubber futures turned weak on NMCE. The market opened better but profit booking at higher levels hammered down the prices; May contract quoted at Rs 87.50 (Rs 87.67), June at Rs 89.20 (Rs 89.39), July at Rs 89.40 (Rs 89.67) and August at Rs 89.25 (Rs 90) per kg for RSS 4.

Physical rates (Rs a kg) were: RSS-4 Rs 86.50 (Rs 85.50); RSS-5 Rs 85.50 (Rs 84.50); un-graded Rs 84 (Rs 83.50); ISNR 20 Rs 85 (Rs 84.50); and latex 60% (per ltr) Rs 60.50 (Rs 60).

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