The Hindu Business Line : Rubber improves on low arrivals

THE spot rubber market opened on a strong note after Easter holidays. Major marketing centres continued to suffer from the scarcity of rubber while the covering groups and purchase agents were quantum buyers throughout the session.

The general rubber goods sector was also moderately active. Expectation of a favourable turn in trading as VAT is being implemented from the new fiscal boosted the sentiments, traders said.

Sheet rubber improved to Rs 56 a kg at Kottayam and Rs 56.25 at Kochi from Rs 55.50 on last Thursday.

The NMCE rubber futures stayed in tune with the physical market adding handsome gains to all its contracts on Monday.

The April contract was traded at Rs 58.10 (56.99), May at Rs 60.25 (59.25), June at Rs 61.50 (60.50) and July at Rs 62.20 (61.49) per kg for RSS 4. According to sources, the volumes also improved on fresh buying from traders.

At TOCOM, the April futures for RSS 3 improved to 139.4 yen from 138.5 yen a kg on Friday.

The same grade closed at Rs 57.68 (57.69) at Bangkok.

The spot rubber rates per kg were: RSS 4: Rs 56 (55.50); RSS 5: Rs 55.25 (54); ungraded: Rs 54 (53.50); ISNR 20: Rs 55 (54); and latex 60 per cent: Rs 41 (40).

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