The Hindu Business Line : Spot rubber continues to rule steady

Kottayam, Aug. 22 Spot rubber continued to rule steady on Friday. A sharp recovery in Japanese indices followed by strong gains in oil and precious metals futures failed to cheer the domestic scene.

RSS 4 finished unchanged at Rs 137 a kg as on Thursday. The volumes were dull. The tyre sector kept their quotes even below at Rs 136.50 a kg during the session possibly to avoid another bull run amidst short supply.

According to sources, the weather is fair enough for enhanced production and most of the plantations have already resumed tapping.

Futures rebound

In futures, the August contract for RSS 3 bounced back to ¥328.7 (Rs 130.68) from ¥320.4, September to ¥321.4 (315), October to ¥319.6 (309.2), November to ¥313.5 (305.1), December to ¥310.3 (303.3) and January to ¥309.7 (301.2) a kg at TOCOM. The grade (spot) improved further to Rs 124.11 (123.21) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 137 (137); RSS-5: 134.50 (134.50); ungraded: 128 (128); ISNR 20: 131.50 (131.50) and latex 60 per cent: 81 (81).

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