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Aravindan

Kottayam , Jan. 11

Spot rubber closed steady on Thursday. The prices failed to sustain at better levels on buyer resistance amidst selling from dealers and growers. Rumours on import duty relaxation for NR continued to cast its shadow over the market.

RSS 4 closed flat at Rs 97 a kg at Kottayam but declined by 50 paise to Rs 96.50 a kg at Kochi. The grade was traded higher up to Rs 98 a kg in tune with bullish international markets but declined towards close.

Futures weak

The rubber futures moved down further on NMCE. The January delivery contract slipped to Rs 98.50 (Rs 100.17), February contract to Rs 100 (Rs 101.71), March to Rs 102.75 (Rs 104.15) and April to Rs 105 (Rs 106.38) per kg for RSS 4. The volumes totalled 4,934 (7,779) tonnes and open interest 9,698 (9,448) tonnes. The February contract for the grade ruled weak at Rs 100.65 against Rs 101.95 a kg (242) on MCX.

Spot prices were (Rs/kg): RSS-4: Rs 97 (Rs 97); RSS-5: Rs 93 (Rs 93); ungraded: Rs 88 (Rs 88); ISNR 20: Rs 90 (Rs 90) and latex 60 per cent: Rs 65.25 (Rs 65.25).

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