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Spot rubber gained strength on Tuesday. The market sought further highs catalysed by sharp gains in domestic futures though a part of the trading community believed that the prices were manipulated by speculators. International indices also ended on a positive note as TOCOM rubber futures rose to a three-week high following the gains in oil and equities. Volumes were comparatively low.
Sheet rubber firmed up to Rs 212 (209) a kg, as quoted by the traders. The grade improved to Rs 210 (207) a kg both at Kottayam and Kochi, according to the Rubber Board.
The September series increased sharply to Rs 219 (213.10), October to Rs 217.01 (211.18), November to Rs 216.60 (211.06), December to Rs 217.02 (211.25), January to Rs 219.15 (213.03) and February to Rs 220.40 (214.00) a kg for RSS 4 on the National Multi Commodity Exchange.
RSS 3 (spot) inched up to Rs 214.91 (214.15) a kg at Bangkok. The September futures for the grade bounced back to ¥362.9 (Rs 217.56) from ¥352 a kg during the day session and then to ¥363 (Rs 217.69) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 212 (209); RSS-5: 203 (200); ungraded: 197 (193); ISNR 20: 201 (198) and latex 60 per cent: 130 (129).
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