The Hindu Business Line : Spot rubber rules firm

Kottayam, March 10 Spot rubber ruled firm on Monday. The market continued to suffer from supply concerns, while covering groups remained comparatively active throughout the session. Sheet rubber moved up to Rs 105 and Rs 105.50 a kg respectively at Kottayam and Kochi from Rs 104.50 a kg on the previous weekend.

According to sources, a leading tyre manufacturer was buyer on the grade up to Rs 105 a kg and the market made all-round gains amidst low volumes. In the global scene, RSS 3 slipped further at its April futures to ¥285 (Rs 112.79) from ¥286 a kg at TOCOM. The grade slipped by 20 paise to Rs 115.32 (115.52) a kg at Bangkok.

Futures improve

On NMCE, the March contract improved to Rs 105.39 (104.34), April to Rs 108.25 (104.56), May to Rs 110.70 (109.58) and June contract to Rs 112 (110.93) per kg for RSS 4. The open interest stood at 6,965 (6,987) tonnes with 2,968 (3,152) tonnes in March, 2,471 (2,445) tonnes in April, 942 (851) tonnes in May and 584 (539) tonnes in June. The volumes totalled 1,940 (894) tonnes transacting 373 (231) tonnes in March, 963 (409) tonnes in April, 449 (190) tonnes in May and 155 (64) tonnes in June.

Spot prices were (Rs/kg): RSS-4: 105 (104.50); RSS-5: 102.50 (102); Ungraded: 101 (100.50); ISNR 20: 102 (101.50) and latex 60 per cent: 74 (73).

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