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Spot rubber prices ruled firm on Wednesday. Prices increased following sustained gains in the domestic futures market on the National Multi Commodity Exchange (NMCE).
Sheet rubber moved up to Rs 195.50 from Rs 195 a kg both at Kottayam and Kochi, according to traders and the Rubber Board. The trend was partially mixed.
In the futures, the June series improved to Rs 197.15 (196.99), July to Rs 200.05 (199.86) and August to Rs 199.89 (199.31), while the September series slipped to Rs 198.01 (198.75) a kg for RSS 4 on the NMCE.
The key TOCOM rubber futures dropped more than one per cent on late trades after posting moderate gains during the past couple of sessions. Declines in crude oil and other commodities coupled with the worries over the persisting Euro Zone debt crisis weighed over the overall market sentiments. But losses were limited on speculation that China might launch an economic stimulus programme.
RSS 3 (spot) recovered to Rs 204.01 (203.22) a kg at Bangkok. The June futures firmed up to ¥272.5 (Rs 193.48) from ¥270 a kg during the day session but then slipped to ¥268 (Rs 190.32) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 195.50 (195); RSS-5: 194 (193); ungraded: 190 (190); ISNR 20: 194.50 (194) and latex 60 per cent: 131 (130).
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