The Hindu Business Line : Spot rubber stays firm at Rs 100/kg

A steady trend prevailed in spot rubber on Monday. Covering groups maintained the price levels waiting for revised quotes from the tyre sector. The market did not suffer selling pressure from any sources.

Sheet rubber remained static at Rs 100 a kg for the third day in a row both at Kottayam and Kochi. Trading activities were dull in the absence of follow-up demand. The difference between ungraded rubber and sheet rubber is almost Rs 6 a kg now. This indicates the inactiveness of the non-tyre sector. Therefore, the response of the major manufacturers might be crucial, traders said.

FUTURES WEAKEN

The NMCE rubber weakened following a decline in overseas futures. The June contract was traded at Rs 101.60 (101.70), July contract at Rs 102.60 (102.78), August contract at Rs 99.50 (100.12) and September contract at Rs 98.02 (99.07) per kg for RSS 4.

The transactions till mid-session were quoted at 1,884 tonnes recording 472 tonnes in June, 841 tonnes in July, 371 tonnes in August and 200 tonnes in September.

Spot prices (Rs a kg) were: RSS-4: Rs 100 (100); RSS-5: Rs 97.50 (97.50); ungraded: Rs 94 (94); ISNR 20: Rs 95 (94) and latex 60% (per ltr): Rs 73 (73).

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