The Hindu Business Line : Spot rubber stays firm

Kottayam, April 11 Spot rubber showed a firm trend on Friday. Though RSS 4 was flat at Rs 106.50 a kg both at Kottayam and Kochi, the remaining grades including RSS 5 and ISNR 20 improved smartly amidst low supply. Major manufacturers who were buyers on sheet rubber at Rs 106 a kg failed to procure the raw material at those levels. The market mood was well supported by a positive closing in global futures, sources said. RSS 3 made marginal gains on TOCOM and its May futures improved to ¥277.6 (Rs 110.06) from ¥276.3 a kg on Thursday. But the grade moved down further by 40 paise to Rs 111.92 (112.32) a kg at Bangkok spot.

Futures gain

The rubber futures maintained the optimistic mood on NMCE. The April contract finished the session at Rs 106.10 (105.32), May at Rs 107.56 (107.09), June at Rs 108.07 (108.05) and July at Rs 108.10 (108.02) per kg for RSS 4.The volumes were almost steady at 1,138 (1,136) tonnes trading 365 (269) tonnes in April, 597 (610) tonnes in May, 106 (195) tonnes in June and 70 (62) tonnes in July. The open interest stood at 4,737 (4,674 ) tonnes with 1,638 (1,688) tonnes in April, 1,978 (1,912) tonnes in May, 736 (710) tonnes in June and 385 (364) tonnes in July.

Spot prices were (Rs/kg): RSS-4: 106.50 (106.50); RSS-5: 105 (104); ungraded: 102.50 (102); ISNR 20: 104.25 (103.50) and latex 60 per cent: 71.50 (71.50).

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