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Aravindan

Kottayam , April 21

Spot rubber maintained the firm trend though the international indices turned red on Friday. The main marketing centres continued to suffer from acute short supply as the next target for RSS 4 has been projected at Rs 100 per kg by jubilant speculators.

Sheet rubber improved to Rs 88.50 and 89 a kg, respectively at Kottayam and Kochi from Rs 88 and 88.50 a kg as covering groups continued to absorb the meagre arrivals. The remaining grades were steady on dull overseas reports but latex 60 per cent regained the strength smartly in tune with the domestic trend. With dollar quoting at Rs 45.10 on Friday noon, the domestic physical rubber is expected to reach the $2- mark shortly.

FUTURES TURN WEAK

The rubber futures turned weak on NMCE. The near month May contract was traded at Rs 88.88 (88.99), June Rs 90 (90.21), July Rs 90 (90.35) and August at Rs 89.10 (89.40) per kg for RSS 4.

The trading volumes totalled 684 lots recording 333 lots in May, 240 in June, 71 in July and 40 lots in August till mid-day.

The May futures for RSS 3 declined sharply to 247.5 yen (Rs 94.95) from 252.2 yen a kg at TOCOM. The grade weakened by 64 paise to Rs 97.94 per kg at Bangkok spot.

Spot rates (Rs a kg) were: RSS-4: 88.50 (88); RSS-5: 87 (87); ungraded: 86 (86); ISNR 20: 86 (86); and latex 60% (per litre): 62 (61).

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