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Our Correspondent

Kottyam, Dec. 19 Physical rubber prices moved up further on Friday.

Sharp gains in the Japanese rubber futures kept the domestic buyers under pressure on late trades. Certain major manufacturers were buyers on sheet rubber up to Rs 65 a kg, sources said.

The grade improved to Rs 66 from Rs 64 a kg, mainly on covering purchases amid low supplies.

Rubber futures on the Tokyo Commodity Exchange were mixed on early trades while the most distant contracts were hit by renewed selling after a firm start. Sentiments turned extremely bullish later as the December contract bounced back towards its expiration.

The market maintained the strength during the afternoon session. The December 2008 contract expired at ¥120.4 (Rs 63.92) a kg, up by ¥10.5 from the previous day’s close.

The January 2009 futures for RSS 3 improved to ¥118.0 (¥110.3), February to ¥119.9 (¥113.3), March to ¥120.8 (¥115.4), April to ¥121.6 (¥118.0) and May to ¥124.0 (¥120.3) a kg at TOCOM. RSS 3 (spot) flared up to Rs 61.15 from Rs 58.60 a kg at Bangkok.

Spot rubber rates per kg were: RSS-4: 66.00 (64.00); RSS-5: 64.00 (62.00); Ungraded: 62.00 (61.00); ISNR 20: 61.00 (59.00); and Latex 60 per cent: 43.50 (42.50).

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