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Aravindan

Kottayam, April 16 Spot rubber made sharp gains on Thursday . According to observers, speculators kept the domestic mood extremely bullish as the scarcity of the raw material continued to haunt the main marketing centres. RSS 4 flared up to Rs 109 from Rs 108 a kg both at Kottayam and Kochi though major manufacturers sidelined the market at higher levels. The May futures for RSS 3 moved up sharply to ¥284 (Rs 112.37) from ¥278.4 a kg at TOCOM.

On NMCE, the May futures improved to Rs 108.63 (108.44), June to Rs 108.70 (108.69), July to Rs 108.30 (108.30) and August to Rs 107.32 (107) to per kg for RSS 4. The open interest was 3,233 (3509) tonnes. The volumes stood at 1,049 (984) lots. The outstanding positions were 1,947 (1,969) tonnes in May, 812 (810) tonnes in June,448 (435) tonnes in July and 26 tonnes in August.

Spot prices were (Rs/kg): RSS-4: 109 (108); RSS-5: 107 (105.50); ungraded: 105 (104); ISNR 20: 106 (105) and latex 60 per cent: 72 (71.50).

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