The Hindu Business Line : Sheet rubber edges higher

Physical rubber prices showed a better trend on Wednesday. Covering groups began to buy at lower levels following a recovery consecutively for the second day in TOCOM. The trend gathered momentum from an improvement in oil futures and yen's weakness against dollar.

RSS 4 improved by 50 paise to Rs 78.50 and Rs 79.00 a kg respectively at Kottayam and Kochi. According to sources, the domestic market is closely following the global trend now, which is expected to settle at a more comfortable level for industries but remunerative for growers.

Futures gain

The rubber futures continued to post moderate gains on NMCE. The October contract was quoted at Rs 78 (Rs 77.01), November at Rs 75.24 (Rs 74.25), December at Rs 76 (Rs 75.01) and January contract at Rs 78 (Rs 77.40) per kg for RSS 4. Spot prices (Rs a kg) were: RSS-4: Rs 78.50 (Rs 78); RSS-5: Rs 77.50 (Rs 77); ungraded: Rs 76.50 (Rs 76); ISNR 20: Rs 77 (Rs 76.50) and latex 60 per cent: Rs 61.55 (Rs 61.55).

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