The Hindu Business Line : Fresh buying props up rubber

THE week ended with another strong move in spot rubber prices. Though the trend remained mixed as RSS 4 closed steady lacking international guidance, the remaining grades, except latex, improved on fresh buying and short covering.

Certain tyre companies bought sheet rubber even up to Rs 67 a kg at the opening session but the grade closed flat in the absence of follow up buying from covering groups and purchase agents.

According to traders, sheet rubber might touch Rs 70 a kg shortly as the inflow of the grade is extremely poor. The market indicator closed unchanged at Rs 66.25 a kg at Kottayam, but improved by 25 paise to Rs 66.50 a kg at Kochi.

NMCE December contract ended at Rs 67.20 (66.59), January contract at Rs 68.56 (67.74), February contract at Rs 69.55 (68.75) and March contract at Rs 69.84 (69.13) per kg for RSS 4. Meanwhile the January delivery contract for RSS 4 improved to Rs 69 from Rs 67.50 a kg on MCX.

Rubber prices a kg were: RSS-4: Rs 66.25 (66.25); RSS-5: Rs 64 (63.75); ungraded: Rs 62.50 (62); ISNR 20: Rs 64.50 (64); and latex 60 per cent: Rs 44.50 (44.50).

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