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Aravindan

Kottayam, Oct. 8 Spot rubber was steady on Monday. Tapping resumed in almost all plantations taking advantage of the favourable turn in weather but the market sustained at current levels following reports on rains over the southern regions of the State.

Sheet rubber RSS 4 closed static at Rs 89 a kg at Kottayam, while the grade improved by 50 paise to Rs 89.50 a kg at Kochi moving more closely to the bullish mood in domestic futures.

The rubber futures showed a better trend trading the November contract at Rs 87.59 (86.70) a kg on MCX. The October contract for RSS 4 improved sharply by the initial daily limit of 2 per cent to Rs 91.60 (89.80) a kg on supply concerns, while the November contract moved up to Rs 87.95 (86.63), December to Rs 88 (86.60) and January to Rs 88.99 (87.71) per kg on NMCE. Spot prices were (Rs/kg): RSS-4: 89 (89); RSS-5: 87 (87); ungraded: 85 (85); ISNR 20: 86 (86) and latex 60 per cent: 62.10 (62.10).

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