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Spot rubber finished steady on Tuesday. The absence of active market participants and trendsetting factors either in the domestic or international scene kept the sentiments almost neutral during late trading hours.
According to reports, Indian rubber futures are likely to edge higher this week on bargain hunting, driven by an upsurge in overseas markets and as the demand from tyre makers improved in spot markets.
Sheet rubber finished unchanged at Rs 162.00 a kg according to traders. The grade improved to Rs 162.00 (Rs 161.50) both at Kottayam and Kochi as quoted by the Rubber Board.
In futures, the December series inched up to Rs 164.99 (Rs 163.99), January to Rs167.02 (Rs 166.14), February to Rs 169.60 (Rs 168.58), March to Rs 172.00 (Rs 170.56) and May to Rs 176.35 (Rs 175.01) while the April series remained inactive on the National Multi Commodity Exchange (NMCE).
RSS 3 (spot) closed at Rs 164.97 (Rs 164.85) a kg at Bangkok.
The December futures slipped to ¥ 252.7 (Rs 166.25) from ¥ 253.05 during the day session but then remained inactive in the night session on Tokyo Commodity Exchange (TOCOM).
The physical rubber rates Rs/kg are: RSS-4: 162.00 (162.00); RSS-5: 156.00 (156.00); Ungraded: 152.00 (152.00); ISNR 20: 154.00 (155.00) and Latex 60%: 106.00 (106.00).
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