Spot rubber improved on Thursday. The market regained strength following the sharp recovery on the National Multi Commodity Exchange (NMCE). The trend was partially mixed. Meanwhile, domestic rubber futures bounced back mainly on fresh buying and short covering at lower levels.
Sheet rubber improved to Rs 170 (168) a kg, according to traders. The grade finished steady at Rs 169 a kg at Kottayam and Kochi, as reported by the Rubber Board.
In futures, the September series flared up Rs 169.80 (163.44), October to Rs 167.84 (161.39), November to Rs 166.94 (160.52) and December to Rs 167.50 (161.14) a kg on the NMCE.
Tokyo rubber futures edged higher, as the better than expected US economic data boosted investor confidence. But gains were limited owing to weak oil prices. According to reports, world’s top three rubber producers Thailand, Indonesia and Malaysia were expected to come up with measures to support farmers.
RSS 3 (spot) increased to Rs 153.17 (152.59) a kg at Bangkok. The August futures recovered to ¥199 (Rs 140.42) from ¥194 a kg during the day session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 170 (168); RSS-5: 161 (159); ungraded: 152 (150); ISNR 20: 149 (150) and latex 60 per cent: 114 (114).