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Aravindan

Kottayam, April 4 Spot rubber made further gains on Friday. Covering groups took initiative to lift the prices followed by fears on short supply. Weak global indices failed to reverse the domestic sentiments and RSS 4, the sheet rubber moved up by 50 paise to Rs 106 a kg at Kottayam while the grade closed steady at the same level in Kochi. There were no revised quotes from the tyre sector. The May futures for RSS 3 slipped to ¥281.5 (Rs 109.95) from ¥282.6 a kg at TOCOM. It’s spot gained by 15 paise to Rs 112.17 a kg at Bangkok.

The rubber futures opened weak but improved towards mid-session on NMCE. The April futures finished at Rs 106.20 (105.02), May at Rs 108.31 (107.01), June at Rs 109.49 (108) and July futures at Rs 109.39 (108.08) per kg for RSS 4. The open interest stood at 4,694 (4,607) tonnes while the volumes totalled 1,301 (1,359) tonnes. The outstanding positions were 1,853 (1,863) tonnes in April, 1,844 (1,780) tonnes in May, 718 (712) tonnes in June and 279 (252) tonnes in July.

Spot prices were (Rs/kg): RSS-4: 106 (105.50); RSS-5: 103 (102.50); ungraded: 102.25 (101.50); ISNR 20: 102.50 (102) and latex 60 per cent: 71 (71).

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