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Aravindan

Kottayam March 13 Physical rubber prices closed on a steady note on Tuesday. Another gain in global indices failed to cheer the traders since there were no quantity buyers in the domestic market to support the trend.

Sheet rubber finished flat at Rs 87.75 and Rs 88 a kg respectively at Kottayam and Kochi as on Monday. The trading lacked proper direction in the absence of domestic fundamental support and guidance, sources said.

Futures weak

The rubber futures fell further ignoring the overseas gains following all-round selling from traders. The most active April contract for RSS 4 moved down to Rs 89.50 a kg from Rs 91.19 on MCX.

The March delivery contract for the grade declined sharply to Rs 85.33 (89.03), April to Rs 88.99 (90.35), May to Rs 91.99 (93.96) and June contract to Rs 95.27 (97.76) a kg on NMCE.

The transactions totalled 4,049 (3,198) lots. The open interest stood at 12,182 (15,687) lots with 824 lots in March, 4942 lots in April, 4946 lots in May and 1470 lots in June.

The April futures for RSS 3 improved to 260.4 Yen (Rs 98.14) from 258 Yen a kg at TOCOM. The grade was quoted at Rs 97.90 a kg at Bangkok.

Spot rubber prices were (Rs/kg): RSS-4: 87.75 (87.75); RSS-5: 87 (87); ungraded: 86 (86); ISNR 20: 86.50 (86.50) and latex 60 per cent: 62.10 (62.10).

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