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Aravindan

Kottayam May 2 The rubber market improved on Wednesday. On the physical front, prices picked up as covering groups turned active after a gap expecting at least a short-term recovery in prices. Major manufacturers were reported to be buyers at lower levels.

According to sources, forthcoming holidays in TOCOM had a positive impact on domestic sentiments as it gives enough room for speculation. RSS 4 improved to Rs 84 and Rs 84.50 a kg from Rs 83 and Rs 83.50 a kg respectively at Kottayam and Kochi.

Futures gain

The rubber futures made moderate gains catalysed by the better trend in international indices. Buying mood in the domestic spot market kept the counters more active.

On NMCE, the May contract improved to Rs 85.70 (82.14), June to Rs 88.30 (84.32), July to Rs 90.35 (86.44) and August contract to Rs 91 (87.32) per kg for RSS 4. The May contract for the grade moved up sharply to Rs 870 a kg from Rs 83.43 on MCX.

Spot rubber prices were (Rs/kg): RSS-4: 84 (83); RSS-5: 83 (82); ungraded: 81.50 (81); ISNR 20: 82.50 (81.75) and latex 60 per cent: 63.15 (62.60).

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