The Hindu Business Line : Spot rubber rules steady

Kottayam, March 19 Spot rubber ruled almost flat on Wednesday. According to sources, the selling from dealers and growers observed during the past few sessions dried up as their stocks hit the bottom lines. There has been some buying interest at lower levels as tapping came to a halt followed by intensified rains all over the State. Sheet rubber closed unchanged at Rs 104 a kg at Kottayam, while the grade moved down to Rs 104.25 from Rs 104.50 a kg at Kochi. The transactions were dull.

Futures better

The rubber futures turned better on NMCE. The April futures improved to Rs 105.13 (104.48), May to Rs 107.16 (106.48), June to Rs 108.44 (108.04) and July to Rs 109 (108.60) per kg for RSS 4. The open interest was 4,153 (4,126) tonnes with 2,291 (2,342) tonnes in April, 1,108 (1,057) tonnes in May, 660 (661) tonnes in June and 94 (66) tonnes in July. The volumes fell to 620 (1,239) tonnes.

Spot prices were (Rs/kg): RSS-4: 104 (104); RSS-5: 102 (102); ungraded: 99 (98.50); ISNR 20: 101.50 (101.50) and latex 60 per cent: 70.50 (70.50).

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