The Hindu Business Line : Spot rubber stays steady

The only gainer was sheet rubber which closed marginally higher by 25 paise at Rs 123 a kg after hitting an intra-day high at Rs 124 a kg on early trades. But it failed to sustain at higher levels as there were no quantity buyers in the market to procure the raw material.

Ungraded rubber which improved by 50 paise in the morning session fell back to finish flat on late trades while the remaining grades including latex were also steady with narrow volumes.

“The market lacked volume buyers since the suspension of domestic rubber futures,” a trader told Business line. “Hence, we have extreme difficulty to sell rubber even in a bullish market like this though the production and arrivals are too low.”

RSS 3 (spot) flared up to Rs 130.01 (128.79) a kg at Bangkok. The May contract for the grade weakened to ¥315.3 (Rs 129.49) from ¥316.3, June to ¥316.1 (316.8), July to ¥315.9 (316.4), August to ¥316.6 (317) and October to ¥316.9 (317.6), while the September futures finished unchanged at ¥317 (317) a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 123 (122.75); RSS-5: 120 (120); ungraded: 116.50 (116.50); ISNR 20: 118.50 (118.50) and latex 60 per cent: 82.50 (82.50).

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