The Hindu Business Line : Rubber recovers on global trend

ANOTHER sharp uptrend in the international indices inspired the domestic spot rubber prices to recover on Monday. At TOCOM, the September futures for RSS 3 improved by 6 yen to close at 175.5 yen from 169.5 yen a kg on Friday.

After a steady opening, the domestic market improved further on short-covering coupled with fresh buying from purchase agents. RSS 4 flared up to Rs 57 from Rs 55.75 a kg on Saturday. Major manufactures were also active in the market.

The NMCE rubber futures recorded smart gains; September contract quotes at Rs 59.10 (57.88), October at Rs 57.90 (56.86), November at Rs 57.25 (56.46) and December contract at Rs 57.40 (56.37) a kg for RSS 4. Total volumes were at 1,927 lots till noon - September 1,034, October 584, November 132 and December contracts 147 lots.

RSS 3 spot improved to Rs 68.16 from Rs 67.84 a kg at Bangkok.

The spot rubber prices per kg were: RSS-4: Rs 57 (Rs 55.75); RSS-5: Rs 54.50 (Rs 53.50); ungraded: Rs 52 (Rs 50.75); ISNR 20: Rs 53 (Rs 52.75); and latex 60%: Rs 38.50 (Rs 38).

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