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Aravindan

Kottayam, April 30 Spot rubber rates surrendered on Wednesday. Marginal selling from growers and small dealers put pressure on the prices and the market made all-round declines amidst buyer resistance. According to sources, major manufacturers were buyers of sheet rubber at the quoted levels which in fact saved the market from falling further. RSS 3 improved by 79 paise to Rs 115.60 a kg at Bangkok. The May futures for the grade slipped to ¥297.8 (Rs 115.95) a kg from ¥298.4 at TOCOM.

The rubber futures turned weak on NMCE. The May futures moved down to Rs 116.33 (117.57), June to Rs 114.28 (115.54), July to Rs 110.30 (111.15) and August futures to Rs 107.85 (108.47) a kg for RSS 4. The volumes were 1,705 (1,770) lots. The open interest stood at 4,101 (4,138) tonnes with 1,874 (1,932) tonnes in May, 1,333 (1,332) tonnes in June, 647 (646) tonnes in July and 247 (228) tonnes in August.

Spot prices were (Rs/kg): RSS-4: 116.50 (117); RSS-5: 114.50 (116); ungraded: 112.50 (114); ISNR 20: 113.50 (115) and latex 60 per cent: 78.50 (78.50).

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