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Spot rubber ruled firm on Friday. Though the market is expected to remain sluggish in the run-up to the end of the current fiscal, prices are moving up as sellers are staying off in major counters.
The market might experience a fall in demand in the days ahead but the commodity is expected to sustain at the current levels on supply concerns.
Sheet rubber improved to Rs 165.50 (Rs 165) a kg at Kottayam and Kochi, according to traders and the Rubber Board. The trend was partially mixed.
Meanwhile, the key Tokyo Commodity Exchange rubber futures fell on concerns over the debt crisis in Cyprus amidst a rebound in the yen and falling share prices.
April contracts increased to Rs 167.70 (Rs 166.88), May to Rs 170.95 (Rs 169.95), June to Rs 171.99 (Rs 171.76) and July to Rs 172.50 (Rs 172.29) while the August contracts dropped to Rs 171.21 (Rs 171.25) on the National Multi Commodity Exchange.
RSS 3 (spot) weakened to Rs 160.69 (Rs 161.77) at Bangkok. The March futures closed at ¥263.0 (Rs 151.33) on the TOCOM.
Spot rubber rates Rs/kg were: RSS-4: 165.50 (165); RSS-5: 163 (162); ungraded: 160 (160); ISNR 20: 161 (160) and Latex 60%: 111 (111).
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