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Spot rubber turned better on Wednesday. The market improved mainly on covering purchases as the domestic futures finished marginally higher on the National Multi Commodity Exchange. “We expect the prices to strengthen further since the market managed to sustain above the Rs 200-level consecutively for three days”, an analyst said. The volumes were comparatively better.
Sheet rubber improved to Rs 202.50 (201) a kg according to traders. The grade increased to Rs 202 (201) a kg both at Kottayam and Kochi as reported by the Rubber Board.
In futures, the January series closed at Rs 203.91 (203.72), February at Rs 206 (205.49), March at Rs 209.90 (208.83), April at Rs 213.50 (213) and May at Rs 214.10 (214.50) and June at Rs 213 (211.74) a kg on NMCE.
RSS 3 (spot) improved to Rs 179.44 (177.99) a kg at Bangkok. The December futures expired at ¥260 (Rs 175.34) while the January futures improved to ¥261.4 (Rs 176.27) from ¥253.1 a kg during the day session but then slipped to ¥260.5 (Rs 175.64) a kg in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 202.50 (201); RSS-5: 198 (197); ungraded: 192 (191); ISNR 20: 189 (188) and latex 60 per cent: 110 (110).
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