Spot rubber improved on Wednesday. The market firmed up following the decision of the Government to enhance the import duty to bring down imports and stabilise domestic prices.
“There were fresh enquiries in the market and we expect a moderate recovery in the local market,” an observer said.
Sheet rubber increased to Rs 158 (156.50) a kg, according to traders. The grade closed firm at Rs 157 (156.50) a kg both at Kottayam and Kochi as reported by the Rubber Board. The trend was partially mixed as latex finished flat amidst dull volumes.
In futures, the March series improved to Rs 157.80 (157.65), April to Rs 162.90 (162.34) and May to Rs 166.31 (165.32 ) while the June series dropped to Rs 168.10 (168.41) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) weakened to Rs 161.05 (162.94) a kg at Bangkok. The March futures slid to ¥270.10 (Rs 158.63) from ¥272.5 a kg during the day session but then bounced back to ¥273.90 (Rs 160.87) a kg in the night session on Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (Rs/kg): RSS-4: 158 (156.50); RSS-5: 152.50 (151.50); Ungraded: 148 (146.50); ISNR 20: 153 (152) and Latex 60 per cent: 99 (99).