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Aravindan

Kottayam, June 9 Domestic rubber rates made another sharp uptrend on Monday. The market stayed in tune with the Japanese rubber futures which extended gains followed by steep rise in oil futures and yen’s weakness against dollar.

RSS 4 finished at Rs 130 against Rs 127 a kg at the previous weekend. There was no support from major consuming industries, sources confirmed.

Covering groups kept the market higher on the positive side expecting sheet rubber to touch Rs 140 a kg in short term. Strengthening monsoon is also expected to affect production adversely giving further scope for a firm trend ahead. The volumes were low.

RSS 3 moved up at its June contract to ¥337.1 (Rs 136.85) from ¥330.9, July to ¥336.9 (330.6), August to ¥336 (331.7), September to ¥335.7 (331.1), October to ¥335 (331.7) and November to ¥336.6 (334.1) a kg at TOCOM. The grade flared up to Rs 139.36 (134.81) a kg at Bangkok spot.

Spot prices were (Rs/kg): RSS-4: 130 (127); RSS-5: 124 (121); ungraded: 120 (116.50); ISNR 20: 121 (118.50) and latex 60 per cent: 85 (83).

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