The Hindu Business Line : Spot rubber improves on low arrivals

A sharp decline in arrivals pushed up the domestic spot rubber prices on Thursday. The interruption in supply due to production concerns following the resumption of rains and the absence of stocks with the dealers and growers were the reasons behind the day's trend, sources said.

Sheet rubber RSS 4 flared up to Rs 93.50 from Rs 92.50 a kg both at Kottayam and Kochi. The market recorded all-round gains ignited by the enquiries from the covering groups and non-tyre sector amidst thin volumes.

Futures up

The rubber futures improved smartly following reports on broad based buying interest in leading global commodity exchanges. The August contract for RSS 4 was quoted at Rs 96.99 (Rs 94.33), September at Rs 92.39 (Rs 90.28), Octoberat Rs 89.65 (Rs 88.09) and November contract at Rs 88.50 (Rs 87.50 ) per kg on NMCE.

The transactions totalled 1,123 tonnes with 110 tonnes in August, 928 tonnes in September, 71 tonnes in October and 14 tonnes in November till mid session.

Spot prices (Rs a kg) were: RSS-4: Rs 93.50 (Rs 92.50); RSS-5: Rs 91.00 (Rs 90.00); ungraded: Rs 88 (Rs 87.00); ISNR 20: Rs 90.50 (Rs 89.50) and latex 60 per cent: Rs 73.67 (Rs 73.14).