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Aravindan

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Kottayam Feb. 7 Global rubber prices bounced back catalysing the domestic market on Wednesday. Sheet rubber moved up to Rs 99.50 a kg from Rs 98 a kg at Kottayam and Kochi. Covering groups turned aggressive once again, while sellers stayed back letting the prices to recover.

Futures recover

The rubber futures also reacted positively to the global recovery but surrendered the initial gains partially towards close on profit booking. The February contract for RSS 4 finished at Rs 101.30 (100.80), March at Rs 104.40 (103.59), April at Rs 109.65 (108.89) and May at Rs 114.05 (112.99) per kg on NMCE. The open interest was 13,980 (13,621) tonnes and turnover 3,901 (4,920) tonnes.

The March contract for RSS 4 was quoted at Rs 104.56 a kg against Rs 103.64 a kg (327 lots) on MCX.

Spot prices were (Rs/kg): RSS-4: 99.50 (98); RSS-5: 96 (95); ungraded: 94.50 (93); ISNR 20: 94 (93) and Latex 60 per cent: 65.75 (64.70).

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Sheet rubber moves up on global trend

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