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Aravindan

Kottayam , Dec. 15

Domestic spot rubber prices recovered sharply on Friday even against bearish global reports. Covering groups set the market on fire offering higher quotes and sheet rubber hit Rs 90 against Rs 86 and Rs 85.50 a kg respectively at Kottayam and Kochi.

There are enough stocks with traders and growers, but nobody is interested to sell, an observer told Business Line. The actual volumes were low in the physical front.

Futures gain

The futures market continued to see impressive gains on NMCE. December contract expired at Rs 90 (Rs 89.25) a kg, while the January contract improved to Rs 92.35 (Rs 89.59), February to Rs 94.10 (Rs 91.84) and March to Rs 96.24 (Rs 93.30) per kg for RSS 4. January contract for RSS 4 moved up further to Rs 91.51 a kg from Rs 88.60 a kg on MCX.

Spot prices per kg were: RSS-4: Rs 90 (Rs 86); RSS-5: Rs 87 (Rs 83.50); ungraded: Rs 82.50 (Rs 80); ISNR 20: Rs 86 (Rs 82.75) and latex 60 per cent: Rs 54.70 (Rs 52.60).

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