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Physical rubber prices improved on Thursday. The market opened steady but improved marginally on late trades, probably on covering purchases at lower levels. The trend was mixed.
Sheet rubber increased to Rs 194 (Rs 193.50) a kg, according to traders. The grade firmed up to Rs 194.50 (193.50) a kg at Kottayam and Kochi, as reported by the Rubber Board.
RSS 4 improved with May contracts rising to Rs 191.29 (190.60), June to Rs 197.63 (195.99) and July to Rs 202.50 (200.97) a kg on the National Multi Commodity Exchange.
The key Tokyo rubber futures edged higher from a 5-month low on investor buying at lower levels though deepening concerns on Europe's debt crisis continued to weigh on the sentiments. There was demand on the physical front which helped to support prices, but TOCOM was still under pressure as it failed to break above ¥300.
RSS 3 (spot) dropped to Rs 203.69 (206.64) a kg at Bangkok. The May futures increased to ¥279.7 (Rs 187.56) from ¥277 during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 194 (193.50); RSS-5: 193 (192); ungraded: 188.50 (188.50); ISNR 20: 193 (192.50) and latex 60 per cent: 125 (125).
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