The Hindu Business Line : Spot rubber rules steady

Kottayam, Sept. 4 Rubber market ruled steady on Thursday. The trading activities were mostly neutral lacking active participants either side to set a specific trend. RSS 4 closed unchanged at Rs 140 a kg consecutively for the third day on buyer resistance. The transactions were low.

Major manufacturers were buyers on sheet rubber up to Rs 140 a kg but they were unwilling to enhance their quotes further though the leading global indices finished higher on late trading.

According to observers, the domestic traders were expecting an improvement in arrivals followed by favourable weather conditions. Most of them seemed to be reluctant to enhance their commitments above the prevailing levels which in fact is very close to the all time high of Indian rubber.

Futures improve

RSS 3 improved further at its September contract to ¥340.7 (Rs 139.29) from ¥336, October to ¥330.4 (324.5), November to ¥327 (319.5), December to ¥320.3 (313), January to ¥317.1 (309.7) and February to ¥316.5 (308.2) a kg at TOCOM. The grade’s spot closed firm at Rs 132.32 (132.17) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 140 (140); RSS-5: 136 (136); ungraded: 133 (133); ISNR 20: 130 (130) and latex 60 per cent: 80.50 (80.50).

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