The Hindu Business Line : Spot rubber prices improve

Kottayam, April 1 Physical rubber prices improved on Tuesday. According to market circles, supply concerns still haunt the market and nobody seemed interested to sell the produce possibly on higher expectations.

The latex production is also very poor due to unstable climatic conditions, they added. Sheet rubber moved up 50 paise to Rs 104 a kg at Kottayam on scattered transactions while the grade was quoted steady at Rs 103.50 a kg at Kochi.

The volumes were extremely narrow. RSS 3 declined at its May futures to ¥273.6 (Rs 108.92) from ¥279.8 a kg at TOCOM. The grade slipped 7 paise to Rs 111.70 at Bangkok.

Futures weak

The rubber futures stayed in tune with the global mood on NMCE. The April futures weakened to Rs 103.95 (104.38), May to Rs 106 (106.33), June to Rs 107.25 (107.45) and July to Rs 107.45 (107.68) per kg for RSS 4. The open interest stood at 4,268 (4,229) tonnes with 1,883 (1,889) tonnes in April, 1,494 (1,471) tonnes in May, 665 (646) tonnes in June and 226 (223) tonnes in July. The volumes totalled 682 (784) tonnes.

Spot prices were (Rs/kg): RSS-4: 104 (103.50); RSS-5: 101.50 (100.50); ungraded: 99.50 (98.50); ISNR 20: 100.50 (99.50) and latex 60 per cent: 70 (70).

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