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Spot rubber improved on Wednesday. The prices gained strength possibly owing to a pull back to reduce the gap between the domestic and international futures. There was no selling pressure in the market since RSS 4 rose above the critical Rs 200-level giving hope for a recovery from the recent fall. But the improvement in weather which is expected to initiate an increase in production and arrivals limited the overall gains, an analyst said. The trend continued to be mixed as latex 60 per cent slipped further on low demand.
Sheet rubber improved to Rs 201.50 (200.50) a kg according to traders. The grade increased to Rs 202 (200) a kg both at Kottayam and Kochi according to Rubber Board.
The September series firmed up to Rs 205.51 (205.26), October to Rs 203.50 (203.30), November to Rs 203.30 (202.91), December to Rs 203.99 (202.96), January to Rs 205.99 (203.61) and February to Rs 207.40 (205.16) a kg for RSS 4 on the National Multi Commodity Exchange.
The August futures recovered marginally to ¥351.5 (Rs 211.24) from ¥349.5 a kg during the day session but then dropped to ¥346.4 (Rs 208.15) in the night session on the Tokyo Commodity Exchange. RSS 3 (spot) slipped to Rs 212.90 (213.01) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 201.50 (200.50); RSS-5: 195 (193); ungraded: 186 (184); ISNR 20: 196 (195) and latex 60 per cent: 126 (127).
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