The Hindu Business Line : Rubber gains further as low arrivals continue

THE rubber market gained further, driven by the scarcity of the raw material. Buyers continued to chase the arrivals as most of the dealers and growers were hesitant to sell their stock even at higher levels. According to sources certain tyre companies bought sheet rubber at the prevailing rates while strong export enquiries added strength to the current market sentiments.

The NMCE futures turned weak with October contract down to Rs 63.86 (64.48), November to Rs 62.81 (63.30), December to Rs 62.40 (62.87) and January to Rs 62.85 (63.20) per kg for RSS 4. In MCX, the October contract for RSS 4 was quoted at Rs 64.00 against Rs 64.36 a kg on Monday.

At TOCOM, the November futures for RSS 3 improved to 196.6 Yen a kg from 194.4 Yen while it firmed up to Rs 74.90 from Rs 74.63 a kg at Bangkok.

The spot rubber prices follow: RSS-4: Rs 64.50 (63.75); RSS-5: Rs 63 (62.50); ungraded: Rs 61 (60.50); ISNR 20: Rs 63 (62.50) and latex 60%: Rs 42.50 (42.50)

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