Spot rubber rises on supply concerns

Spot rubber rises on supply concerns

Kottayam, Feb.17

Spot rubber prices rebounded on Wednesday. Sheet rubber managed to close at Rs 140 (138) a kg following the sharp gains in the international futures on TOCOM and SICOM. According to observers, the market was riding mainly on supply concerns as the inflow continued to be low probably due to the adverse climatic conditions.

Futures weak

The March futures for RSS 4 weakened to Rs 140.10 (142.94), April to Rs 144.60 (147.31), May futures to Rs 148 (150.85) and June to Rs 150.19 (152.87) a kg on National Multi Commodity Exchange (NMCE). RSS 3 flared up with the February futures rising to ¥286.8 (276.5) (Rs 145.98), March to ¥288.9 (277.8), April to ¥291.7 (280.3) and May to ¥293.9 (282.8) a kg during the day session on the Tokyo Commodity Exchange (TOCOM).

RSS 3 increased to Rs 147.19 (145.53) a kg on Singapore Commodity Exchange (SICOM). The grade closed firm Rs 146.26 (143.71) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 140 (138); RSS-5: 137 (135.50); Ungraded: 135 (134); ISNR 20: 135 (134) and latex 60per cent: 90 (90).