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Spot rubber turned better on Monday. The market opened steady but improved later on fresh buying and short covering led by the moderate recovery in domestic futures. “We are expecting enquiries from major consuming sector as the international indices rule much above the Indian rates,” an observer said. The trend was partially mixed.
Meanwhile, in the international market natural rubber prices were seen rising with TOCOM rubber futures tracking the gains in other commodities.
Sheet rubber increased to Rs 198.50 (197.50) a kg, according to traders. The grade finished unchanged at Rs 198 a kg both at Kottayam and Kochi, according to the Rubber Board.
In futures, the September series recovered sharply to Rs 204.40 (198.61), October to Rs 201.90 (195.46), November to Rs 201.33 (195.52), December to Rs 201.90 (197.20), January to Rs 203 (198.09) and February to Rs 203 (209.95) a kg on the National Multi Commodity Exchange.
RSS 3 improved at its August futures to ¥351 (Rs 209.09) from ¥348 a kg during the day session but then slipped to ¥350 (Rs 208.48) in the night session on the Tokyo Commodity Exchange. RSS 3 (spot) closed at Rs 211.12 (211.07) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 198.50 (197.50); RSS-5: 190 (190); ungraded: 182 (180); ISNR 20: 195 (194) and latex 60 per cent: 129 (129).
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