The Hindu Business Line : Spot rubber recovers sharply

The physical rubber prices recovered sharply on Saturday. Traders seemed to be optimistic about the immediate future of the market as TOCOM bounced back to the positive territory towards close on Friday followed by short covering coupled with bargain hunting at lower levels.

RSS 4 improved to Rs 91.00 from Rs 89.00 a kg at Kottayam and Kochi. The resumption of rain during the past few days was also another concern for the domestic buying spree.

Futures firm

The rubber futures also firmed up on NMCE. The August contract closed at Rs 93.65 (Rs 92.26), September contract at Rs 91.05 (Rs 89.85), October contract at Rs 90.00 (Rs 89.23) and November contract at Rs 89.80 (Rs 89.23) per kg for RSS 4.

The total volumes stood at 1,487 tonnes with 680 tonnes in August, 705 tonnes in September, 67 tonnes in October and 35 tonnes in November.

Spot rubber prices per kg were: RSS-4: Rs 91.00 (Rs 89.00); RSS-5: Rs 88.50 (Rs 87.00); Ungraded: Rs 86.00 (Rs 84.50); ISNR 20: Rs 88.00 (Rs 87.00) and Latex 60 per cent: Rs 75.24 (Rs 74.19).