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Our Correspondent

Kottayam , Dec. 22

Physical rubber prices soared on Friday. The bull domination in Japanese futures put the domestic markets on fire.

Covering groups and purchase agents were extremely aggressive on sheet rubber and the grade improved to Rs 90 and Rs 90.50 a kg respectively at Kottayam and Kochi from Rs 88.50 a kg on Thursday.

Speculators were buyers on sheet rubber even up to Rs 94 a kg, according to rumours. There was no company support on the grade above Rs 88.50 a kg, sources confirmed.

Futures rise

Domestic rubber futures also made gains in tune with global commodity exchanges especially TOCOM. On NMCE, the near month January contract shot up to Rs 95.56 (Rs 91.90), February to Rs 97.65 ( Rs 94.15 ), March to Rs 98.82 ( Rs 95.47 ) and April to Rs 101.21 (Rs 97.92) per kg for RSS 4. The turnover was 8,017 ( 5,934 ) lots and open interest 7,544 ( 7,760 ) lots.

The January delivery for the grade flared up to Rs 95.40 a kg from Rs 91.60 trading 1342 (815) lots on MCX. The January futures for RSS 3 hit the upper circuit at 220.3 Yen (Rs 82.99 ) against 210.3 yen a kg on TOCOM. The grade moved up to Rs 81.06 from Rs 80.85 a kg at Bangkok spot.

Spot prices (Rs a kg) were: RSS-4 : 90 (88.50); RSS-5: 88 (86.50); ungraded: 83.25 (82.25); ISNR 20: 86.50 (86) and latex 60% : 60 (58.40)

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