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Aravindan

Kottayam , Oct. 17

Spot rubber gained further on Tuesday. Firm intentional indices backed up the market mood but the influence of the speculative factor was prominent since the domestic prices ruled almost by Rs 5.00 a kg above the global rates.

International supply crunch due to intensified rains in major rubber producing countries such as Thailand and Indonesia is expected to keep the raw material bullish in the succeeding weeks. RSS 4 moved up to Rs 90 and Rs 90.50 a kg from Rs 88 and Rs 87 a kg respectively at Kottayam and Kochi. According to informed sources certain tyre companies were active on the grade at the prevailing levels.

Futures weak

On the contrary, the rubber futures turned weak on profit booking coupled with speculative selling at higher levels. The November contract was quoted at Rs 88.40 (Rs 88.36), December at Rs 85.97 (Rs 86.50), January at Rs 86.65 (Rs 87.50 ) and February at Rs 88 (Rs 88.79) per kg for RSS 4 on NMCE.

Physical prices per kg were: RSS-4: Rs 90 (Rs 88); RSS-5: Rs 87 (Rs 85); ungraded: Rs 85 (Rs 83); ISNR 20: Rs 87 (Rs 84) and latex 60 per cent: Rs 60 (Rs 60).

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