The Hindu Business Line : Steady trend continues in spot rubber

Kottayam, July 16 The physical rubber prices maintained the steady trend on Wednesday. Sharp declines in the Japanese market failed to make any visible impact on the domestic scene. RSS 4 closed flat at Rs 131 a kg as on Tuesday.

The transactions were low. The sentiments appeared stable here even though the Tokyo Commodity Exchange suffered heavily on rubber followed by a steep fall in oil futures.

Supply concerns helped the Indian market to sustain at the prevailing levels as the main marketing centres continued to suffer from an acute shortage of the raw material.

July futures down

In futures, RSS 3 fell sharply at its July contract to ¥330.5 (Rs 137.30) from ¥338.3, August to ¥330.2 (337.6), September to ¥330 (337.3), October to ¥329.6 (338.3), November to ¥329.2 (337.9) and December to ¥329.2 (338.4) a kg at TOCOM. But RSS 3 spot improved to Rs 139.03 from Rs 137.44 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 131 (131); RSS-5: 129 (129); ungraded: 127 (127); ISNR 20: 129.25 (129.25) and latex 60 per cent: 88.50 (88.50).

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