The Hindu Business Line : Rubber prices remain firm

Almost a steady trend prevailed at the spot rubber market on Wednesday. A leading player from the tyre sector was active in sheet rubber quoting up to Rs 80.50 a kg, informed sources said.

In fact, the only gainer of the day was sheet rubber RSS 4 which improved to Rs 81 from Rs 80.75 a kg at Kottayam. The grade remained static at Rs 81 a kg at Kochi as on Tuesday.

Covering purchases were also visible in sheet rubber while the remaining grades closed flat on comparatively less demand. The arrivals were narrow. The domestic rubber futures showed a better mood with a decline in volumes.

The April contract for RSS 4 was quoted at Rs 82.80 (Rs 82.50), May Rs 85.47 (Rs 85.06), June Rs 86.70 (Rs 86.45) and July contract at Rs 87.22 (Rs 87) per kg on NMCE. The transactions till noon were 460 lots with 69 lots in April, 282 in May, 86 in June and 23 lots in July.

The May contract for RSS 4 traded at Rs 86.30 against Rs 83.05 per kg on MCX.

The April futures for RSS 3 firmed up to 238.6 yen (Rs 90.57) from 236.9 yen a kg at TOCOM. The grade closed unchanged at Rs 91.49 a kg at Bangkok spot.

The physical rubber prices per kg were: RSS-4: Rs 81 (Rs 80.75); RSS-5: Rs 80 (Rs 80); Ungraded: Rs 79 (Rs 79); ISNR 20: Rs 79.75 (Rs 79.75) & Latex 60% (per litre): Rs 56.50 (Rs 56.50).