The Hindu Business Line : Spot rubber prices steady

DISCOUNTING the sharp decline in international futures, the domestic spot rubber closed almost steady on Friday. The market was rather inactive in the absence of quantity sellers and buyers and RSS 4 closed unchanged at Rs 61.50 a kg as on Thursday.

Meanwhile, ungraded rubber improved marginally by 25 paise on fresh enquiries from the general rubber goods sector but scattered transactions failed to make any price movements in the remaining grades, including latex. The operators expected the arrivals to improve towards the later half of the month and a better supply might put further pressure on the prices, sources said.

The NMCE rubber futures turned weak following another crash in TOCOM. The August delivery contract was quoted at Rs 60.50 (Rs 60.66), September at Rs 60.90 (Rs 61.59), October contract at Rs 58.70 (Rs 59.40) and November at Rs 57.80 (Rs 58.42) per kg for RSS 4. The volumes totalled at 1,184 lots, with 32 lots in August, 1,021 lots in September, 108 lots in October and 23 lots in November till mid session.

The September futures for RSS 3 lost 6 yen to 170.2 yen against 176.2 yen a kg at TOCOM.

Sport rubber prices a kg were: RSS-4: Rs 61.50 (Rs 61.50); RSS-5: Rs 57 (Rs 57); ungraded: Rs 54.75 (Rs 54.50); ISNR 20: Rs 56 (Rs 56); and latex 60%: Rs 39 (Rs 39).

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