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Aravindan

Kottayam, Nov. 7 The international rubber prices were firm following another record closing in oil futures at $97.83 a barrel on Wednesday. The December futures for RSS 3 flared up to 297.2 Yen (Rs 100.65) against 292 Yen a kg at TOCOM. The grade (spot) closed at Rs 101.37 against Rs 101.17 a kg at Bangkok. The trend was well supported also by a strong rise in gold futures in the global scene.

In domestic spot, RSS 4 was traded flat at Rs 100 a kg both at Kottayam and Kochi lacking follow up support from the major consuming industries and traders. According to observers, buyers stayed back following a favourable turn in weather and volumes were low.

In futures, the November contract for RSS 4 moved up to Rs 101.90 (100.02) a kg on MCX.. The November contract for the grade finished weak at Rs 100.25 (100.35) a kg, while the December contract improved marginally to Rs 101.41 (101.31), January to Rs 102.45 (102.27) and February to Rs 103.15 (103.08) per kg on NMCE. There has been profit booking at higher levels in all contracts during the latter half of the session.

Spot prices per kg were: RSS-4: 100 (100); RSS-5: 97 (97); ungraded: 94.50 (94.50); ISNR 20: 95.50 (95.50) and latex 60 per cent: 64.50 (64.50).

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