The Hindu Business Line : Spot rubber prices improve

Kottayam, July 9 Spot rubber made a moderate come back on Monday. Expectations on a revival in prices during the days ahead coupled with an improvement in domestic and global futures supported the mood of the day. Sheet rubber was quoted better at Rs 75 against Rs 74 and Rs 74.50 a kg respectively at Kottayam and Kochi. All major grades and latex turned better as there was no visible selling pressure from dealers or growers.

Futures gain

The rubber futures extended the gains on NMCE. The delivery month July moved up to Rs 74.92 (74.51), August to Rs 78.10 (76.19), September to Rs 79.20 (76.83) and October to Rs 79.58 (77.02) per kg for RSS 4. The transactions totalled 3,543 (939) tonnes. The August contract for RSS 4 was better at Rs 78.33 (76.94) a kg on MCX.The open interest on NMCE was 7,234 (7,012) lots with 2,099 (2,189) lots in July, 2,934 (2,751) lots in August, 1,258 (1,230) lots in September and 943 (842) lots in October. RSS 3 improved at its August futures to 256 Yen (Rs 83.81) from 253.2 Yen a kg at TOCOM. RSS 3 (spot) declined to Rs 82.95 (84.18) a kg at Bangkok. Spot rubber prices were (Rs/kg): RSS-4: 75 (74); RSS-5: 73 (71.50); ungraded: 71 (69.75); ISNR 20: 72 (71) and latex 60 per cent: 56.85 (56.30).