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Aravindan

Kottayam, Oct. 1 Intensified rains continued to lift the domestic rubber prices once again to further highs as covering groups turned aggressive amidst acute short supply.

Though the overseas reports were negative and major manufacturers inactive, the prices firmed up since there was no quantity sellers even at higher levels. Sheet rubber bounced back to Rs 91 a kg against Rs 90 a kg both at Kottayam and Kochi. The market made overall gains on fresh demand.

The futures market ruled almost steady on Monday. The October contract ended at Rs 89.95 (89.84) a kg on MCX.

The October contract for RSS 4 downed the shutters at Rs 91.10 (90.53), November at Rs 87 ( 86.99), December at Rs 86.94 (86.87) and January at Rs 87.81 (87.60) per kg on NMCE.

The transactions totalled 1,381 (704) lots and open interest 3,643 (3,728) lots.The outstanding positions in October stood at 1,440 (1,564) tonnes, November at 1,261 (1,256) tonnes, December at 712 (699) tonnes and January at 230 (209) tonnes.

The November futures for RSS 3 weakened to 252.5 yen (Rs 87.01) from 256.1 yen a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 91 (90); RSS-5: 88 (87.50); ungraded: 86 (85); ISNR 20: 87 (86.50) and latex 60 per cent: 62.60 (62.10).

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