The Hindu Business Line : Spot rubber rules steady

Kottayam, April 2 Spot rubber prices were almost steady on Wednesday. Though the market appeared firm, the expectations for an uptrend failed to materialise as it lacked the support from the tyre sector. Sheet rubber RSS 4 closed flat at Rs 104 a kg at Kottayam while the grade closed better by 50 paise at the same level in Kochi. The May futures for RSS 3 improved to ¥277.7 (Rs 108.88) from ¥273.6 a kg at TOCOM. RSS 3 (spot) closed at Rs 112.04 against Rs 111.70 a kg at Bangkok.

Futures better

The rubber futures turned better on NMCE. The April futures moved up to Rs 104.50 (103.79), May to Rs 106.60 (105.88), June to Rs 107.70 (107.23) and July futures to Rs 107.62 (107.24) per kg for RSS 4.The open interest was 4,519 (4,268) tonnes with 1,900 (1,883) tonnes in April, 1,688 (1,494) tonnes in May, 691 (665) tonnes in June and 240 (226) tonnes in July. The volumes were better at 969 (682) tonnes.

Spot prices were (Rs/kg): RSS-4: 104 (104); RSS-5: 101.50 (101.50); ungraded: 100 (99.50); ISNR 20: 100.50 (100.50) and latex 60 per cent: 70 (70).

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