The Hindu Business Line : Rubber prices recover on rains

SPOT rubber prices recovered on Monday. Continuous rains since Saturday evening helped the market to record moderate gains in all grades, including latex, as short covering at lower levels absorbed the selling from traders and growers.

Sheet rubber RSS 4 improved to Rs 65.75 a kg from Rs 65.00 and Rs 65.50 at Kottayam and Kochi respectively .

Rubber futures firmed up further on the National Multi-Commodity Exchange (NMCE) on encouraging reports from the international and domestic markets. The November contract was quoted at Rs 65.41 ( 65.41), December at Rs 65.50 ( 64.82), January at Rs 65.00 ( 64.63) and February at Rs 65.23 ( 64.74) per kg for RSS 4. On MCX, the December contract for the grade improved to Rs 65.51 from Rs 64.66 a kg on Saturday

The volumes in NMCE till noon totalled 1,197 lots, registering nine lots in November, 843 in December, 240 in January and 105 in February.

The December futures for RSS 3 moved up sharply to 188.7 yen from 183.4 yen at TOCOM. It was steady Rs 72.59 a kg at Bangkok.

Physical rubber prices a kg were: RSS-4: 65.75 (65.00); RSS-5: 63 (62.50); ungraded: 60.50 (60); ISNR 20: 63 (62.75); and latex 60%: 43 (42)

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