The Hindu Business Line : Spot rubber prices rise further

Kottayam, April 21 Physical rubber prices posted moderate gains on Monday. Covering groups and purchase agents continued to procure the raw material as major manufacturers were buyers on sheet rubber up to Rs 110.50 a kg during the previous week. The grade moved up to Rs 112 from Rs 111 a kg both at Kottayam and Kochi amidst low arrivals.

North Indian buyers were also seen active in the main marketing centres lifting RSS 5 and ISNR 20 to further highs, sources said. The May futures for RSS 3 closed at ¥286.9 (Rs 110.07) against ¥286.2 a kg at TOCOM. Its spot improved by 39 paise to Rs 113.93 a kg at Bangkok.

Futures firm

RSS 4 firmed up marginally at its May futures to Rs 111.26 (111.00) and June to Rs 111.20 (110.89) a kg while its July futures slipped to Rs 109.30 (109.69) and August to Rs 107.05 (107.76) a kg on NMCE. The open interest was 3,404 (3,281) tonnes with 1,899 (1,899) tonnes in May, 978 (882) tonnes in June, 458 (444) tonnes in July and 69 (56) tonnes in August. The volumes totalled 1,599 (1,141) tonnes.

Spot prices were (Rs/kg): RSS-4: 112 (111); RSS-5: 109.50 (108.50); ungraded: 108 (107); ISNR 20: 108.50 (107.50) and latex 60 per cent: 74 (72.50).

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