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Rubber prices improved further on Tuesday. In the spot market, they extended gains following consistent recovery on the National Multi Commodity Exchange(NMCE).
According to sources, the widening gap between the domestic and international prices and the weakening rupee against dollar may have initiated the recent buying pressure which took RSS 4 back above the Rs 200 level. The trend was partially mixed.
Sheet rubber improved to Rs 200.50 (198.50) a kg, according to traders.
The grade firmed up to Rs 200 (198) a kg both at Kottayam and Kochi, as reported by the Rubber Board.
The September series increased to Rs 205.10 (204.16), October to Rs 203.32 (201.37), November to Rs 203.50 (200.83), December to Rs 203.49 (201.71), January to Rs 204.25 (203.12) and February to Rs 204.52 (202.11) a kg on the NMCE.
The August futures dropped to ¥349.5 (Rs 208.08) from ¥351 a kg during the day session but then bounced back to ¥351 (Rs 208.91) in the night session on the Tokyo Commodity Exchange.
RSS 3 (spot) closed firm at Rs 213.01 (211.12) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 200.50 (198.50); RSS-5: 193 (190); ungraded: 184 (182); ISNR 20: 195 (195) and latex 60 per cent 127 (129).
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