The Hindu Business Line : Spot rubber rules steady

Kottayam, Feb. 6 Physical rubber prices turned steady on Wednesday. There were no sellers in the market though the international markets continued to finish in red on weak oil and gold futures. RSS 4 closed flat at a Rs 94 a kg both at Kottayam and Kochi as on Tuesday.

Futures weak

The March futures for RSS 3 moved down sharply to 276.6 Yen (Rs 105.08) from 286.2 Yen a kg at TOCOM while its spot slipped by 47 paise to Rs 106.51 a kg at Bangkok. The LTP for the March futures was Rs 96 (96.70) a kg on MCX. RSS 4 slipped at its February contract to Rs 94.49 (94.67), March to Rs 96.49 (96.72), April to Rs 99.35 (99.47) and May to Rs 100.80 (100.96) per kg on NMCE. The domestic markets are now more depending on Bangkok prices rather than TOCOM which is more speculative, a spokesperson said. The open interest stood at 8,149 (8,206) tonnes with 3,107 (3,192) tonnes in February, 3,616 (3,620) tonnes in March, 1,030 (1,022 ) tonnes in April and 396 (372) tonnes in May. The volumes were 1,067 (948) tonnes transacting 344 (253) tonnes in February, 403 (447) tonnes in March, 221 (196) tonnes in April and 99 (52) tonnes in May.

Spot prices were (Rs/kg): RSS-4: 94 (94); RSS-5: 91.50 (91.50); ungraded: 90 (90); ISNR 20: 91 (91) and latex 60 per cent: 58.50 (58.50).

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