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Aravindan

Kottayam , Oct. 13

Rumours on acute shortage of the raw materiel took spot rubber to further highs on Friday. Covering groups seemed aggressive though the reports from the global exchanges were not supportive.

Sheet rubber flared up to Rs 85 a kg from Rs 84 both at Kottayam and Kochi on fresh buying and short covering. It is even suspected that the market is now moving under the grip of certain speculators, which might lead to unhealthy price fluctuations.

Futures mixed

The rubber futures showed a mixed trend on NMCE. The October contract was quoted at Rs 84.95 (Rs 85.50), November at Rs 83.50 (Rs 82.99), December at Rs 83.00 (Rs 82.94) and January at Rs 84.01 (Rs 84.02) per kg for RSS 4.

The open interest in October stood at 378 (462) lots, November 1707 (1674) lots, December 1049 (1005) lots and January at 540 (521) lots. Spot prices (Rs a kg) were: RSS-4: Rs 85 (Rs 84); RSS-5: Rs 83 (Rs 82.50); ungraded: Rs 81 (Rs 80); ISNR 20: Rs 82.00 (Rs 82) and latex 60 per cent: Rs 58.40 (Rs 58.40).

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