The Hindu Business Line : Sheet rubber stays steady

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Kottayam Feb. 9 Spot rubber was almost flat with a weak under current on Friday. The market lost its strength to retain the true values mainly since the buying from the tyre sector dried up, sources said.

Sheet rubber was static at Rs 99 a kg at Kottayam. The grade shed 50 paise a kg to be quoted at the same level at Kochi. There was selling from certain dealers and growers who still preferred to reduce their stocks though the global rates ruled much above the domestic quotes.

Futures steady

The rubber futures also showed an almost steady trend but with a positive touch on NMCE. The February contract downed the shutters at Rs 100.31 (100.24), March at Rs 103.27 (103.01), April at Rs 108.20 (107.83) and May at Rs 113.10 (112.69) per kg for RSS 4. The volumes were low at 1,910 (4,611) tonnes, while the open interest stood at 14,527 (14,316) tonnes.

The February contract for RSS 4 declined to Rs 100.40 a kg from Rs 101.12 a kg (153 lots) on MCX.

RSS 3 (spot) moved up marginally by 25 paise to Rs 107.39 at Bangkok. The grade's March futures improved to 285 Yen (Rs 103.37) from 283.3 Yen a kg at TOCOM.

The spot rubber prices were (Rs/kg): RSS-4: 99 (99); RSS-5: 95.50 (96); Ungraded: 94 (94.25); ISNR 20: 94 (94) and Latex 60 per cent: 65.75 (65.75).