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Aravindan

Kottayam, March 6 Spot rubber made sharp gains on Thursday. RSS 4 flared up to Rs 105 and Rs 104 a kg respectively at Kottayam and Kochi from Rs 103 as covering groups turned extremely aggressive on the grade. “No body is interested to sell rubber even at higher levels,”, an analyst told Business Line. The production is very low. So it is quite natural for the speculative players to take advantage of the fundamental as well as technical situation of the market. There has been no genuine consumer based buying in the market during the session.

In rubber futures, the April contract rose to Rs 107.35 (105.60) a kg on MCX. The March contract on NMCE improved further to Rs 104.11 (103.37), April contract to Rs 107 (106.35), May to Rs 109.21 (108.53) and June to Rs 110.60 (110.04) per kg for RSS 4.The open interest stood at 6,923 (6,829) tonnes with 3,315 (3,448) tonnes in March, 2,325 (2,181) tonnes in April, 781 (734) tonnes in May and 502 (466) tonnes in June. The volumes were better at 2,473 (2,183) lots with 645 (548) lots in March, 1,374 (1,099) lots in April 340 (311) lots in May and 114 (225) lots in June. RSS 3 slipped marginally at its April futures to 294.7 Yen (Rs 114.74) from 295 Yen a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 105.00 (103); RSS-5: 102 (101); ungraded: 100.50 (99); ISNR 20: 101 (100) and latex 60 per cent: 73 (71).

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