The Hindu Business Line : Spot rubber prices at 1-year high

Kottayam, April 17 Physical rubber prices made yet another uptrend on Thursday to touch a one-year high. RSS 4 rose sharply to Rs 111 a kg both at Kottayam and Kochi from Rs 109 a kg on Wednesday. Covering groups and purchase agents turned aggressive once again to procure the sparse arrivals and the market appeared to be moving under the control of speculators. A major manufacturer from the non tyre sector bought sheet rubber at higher levels, sources confirmed.

Futures improve

The rubber futures continued to post moderate gains on NMCE. The May futures finished firm at Rs 109.43 (108.85), June at Rs 109.39 (108.72) and July futures at Rs 108.78 (108.35) per kg while the most distant August futures slipped marginally to Rs 107.04 (107.37) a kg for RSS 4. The open interest was 3,183 (3,233) tonnes with 1,872 (1,947) tonnes in May, 841 (812) tonnes in June, 434 (448) tonnes in July and 36 (26) tonnes in August. The volumes were 1,190 (1,049) lots.

Spot prices were (Rs/kg): RSS-4: 111 (109); RSS-5: 108.50 (107); ungraded: 106.50 (105); ISNR 20: 107 (106) and latex 60 per cent: 72.50 (72).

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