The Hindu Business Line : Spot rubber rules steady

Spot rubber closed steady on Thursday. There has been an all-round improvement by 50 paise in the morning trades, but bearish reports from the international futures pruned the initial gains during the second half of the day.

RSS 4 settled steady at Rs 78.50 kg and Rs 79.00 a kg respectively at Kottayam and Kochi as on Wednesday.

Futures decline

Rubber declined on NMCE. Though the domestic futures opened firm in tune with TOCOM, a late fall probably due to a technical sell-off in the global trend setter took the steam out and the domestic prices surrendered towards mid session.

The October contract was quoted at Rs76.60 (Rs 77.36), November contract at Rs 74.30 (Rs 74.59), December at Rs 74.69 (Rs 74.92) and January contract at Rs 76.50 (Rs 77.04) per kg for RSS 4.

Spot rates (Rs a kg) were: RSS-4: Rs 78.50 (Rs 78.50); RSS-5: Rs 77.50 (Rs 77.50); Ungraded: Rs 76.50 (Rs 76.50); ISNR 20: Rs 77.00 (Rs 77.00) and Latex 60 per cent: Rs 61.00 (Rs 61.55).

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