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Spot rubber ruled steady on Tuesday. The market seemed to be lacking initiative to set a definitive trend as traders were not interested to expand their commitments. Intermittent summer rain and expectations of an improvement in arrivals seemed to be guiding the sentiments. But it really appeared to be difficult to forecast any immediate change in the fundamental or technical position of the market.
According to traders, sheet rubber continued to remain unchanged at Rs 240 a kg amidst scattered transactions. The grade slipped to Rs 239.50 (240) a kg both at Kottayam and Kochi, according to Rubber Board.
The May series closed at Rs 242.30 (242.74), June at Rs 246.70 (247.67), July at Rs 248 (248.13), August at Rs 239.55 (239.33) and September at Rs 231.55 (230) a kg for RSS 4 on the National Multi Commodity Exchange.
RSS 3 (spot) weakened to Rs 254.38 (258.73) a kg at Bangkok. The May futures for the grade declined to ¥435.8 (Rs 237.31) from ¥442.8 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 240 (240); RSS-5: 236 (236); ungraded: 222 (222); ISNR 20: 233 (233) and latex 60 per cent: 147 (147).
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