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Aravindan

Kottayam, Aug. 29 The rubber prices firmed up on Wednesday. The markets moved under the influence of domestic supply concerns as lingering rains put pressure on production even during the Onam season. An improvement in RSS 3 (spot) by Rs 1.13 to Rs 86.46 a kg in Bangkok supported the trend further, sources said.

In the physical front, sheet rubber improved to Rs 86 from Rs 85 a kg on the previous weekend. The market made all-round gains followed by renewed buying interest shown by the covering groups.

On NMCE, the September contract moved up to Rs 87.89 (85.56), October to Rs 82.61 (80.92), November to Rs 80.90 (80.05) and December to Rs 80.80 (79.90) per kg for RSS 4. The September contract was better at Rs 87.11 against Rs 86.39 a kg on MCX.

The open interest stood at 4,791 (4,874) lots with 2,350 (2,508) lots in September, 1,625 (1,616) lots in October, 618 (601) lots in November and 198 (149) lots in December on NMCE.

The volumes totalled 2,363 (760) lots. RSS 3 declined at its September futures to 240.5 Yen (Rs 86.60) a kg from 245.4 Yen a kg at TOCOM.

Spot prices per kg were: RSS-4: 86 (85); RSS-5: 83.50 (83); ungraded: 81 (80); ISNR 20: 83 (82.50) and latex 60 per cent: 61.05 (60).

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