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Aravindan

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Kottayam March 6 The domestic rubber market was almost neutral though the global indices bounced back on Tuesday. According to sources the trend setting Japanese markets regained strength on renewed buying mainly following yen's weakening against dollar.

Sheet rubber closed flat at Rs 90 a kg both at Kottayam and Kochi lacking quantity buyers even at lower levels. But there were enquires on ungraded rubber from the non-tyre sector. We are once again under the grip of over speculation and causalities might be very high in a highly fluctuating market, an observer told Business Line.

Futures gain

The rubber futures moved up led by the international recovery. The March delivery contract for RSS 4 firmed up to Rs 87.50 a kg against Rs 83.82 a kg (320 lots) on MCX.

On NMCE, the March contract was quoted at Rs 86.85 (84.87), April at Rs 90.30 (88.55), May contract at Rs 94.40 (93.11) and June at Rs 97.50 (96.04) a kg for RSS 4. Spot prices were (Rs/kg): RSS-4: 90 (90); RSS-5: 88 (88); ungraded: 86.75 (86); ISNR 20: 88.50 (88.50) and latex 60 per cent: 61.05 (61.05).

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