The Hindu Business Line : Spot rubber gains on rains

Kottayam, Nov. 6 Rubber prices firmed up on Tuesday. A spurt in RSS 3 spot by Rs 1.23 to Rs 101.17 a kg at Bangkok and widespread rains all over the plantation areas during the past 24 hours took the market to the positive zone. RSS 4 was traded at Rs 100 a kg against Rs 99.50 both at Kottayam and Kochi as covering groups and purchase agents remained active on the grade. The market made all round gains expecting revised quotes from the tyre sector.

Futures better

The rubber futures turned better quoting the November contract at Rs 100.30 (99.98) a kg on MCX. On NMCE, the November contract improved to Rs 100.30 (99.47), December to Rs 101.34 (99.77), January to Rs 102.33 (100.34) and February to Rs 103.10 (101.59) per kg for RSS 4. The volumes totalled 1,509 (2,018) tonnes, while the open interest stood at 4,486 (4,433) tonnes. The outstanding positions were 846 (935) tonnes in November, 1,752 (1,689) tonnes in December, 1,072 (1,010) tonnes in January and 816 (799) tonnes in February. The December futures for RSS 3 closed at 292 Yen (Rs 99.83) against 291.4 Yen a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 100 (99.50); RSS-5: 97 (96.50); ungraded: 94.50 (94); ISNR 20: 95.50 (94.50) and latex 60 per cent: 64.50 (64).