Spot rubber improves on short covering

Spot rubber improves on short covering

Kottayam, March 4

Physical rubber prices firmed up further on Thursday. The market improved on fresh buying and short covering as it felt shortage of the raw material in the main marketing centres. Sheet rubber increased to Rs 143.50 from Rs 143 a kg amidst dull volumes. According to observers, there were no fresh enquires from the tyre sector.

Futures mixed

The rubber futures showed a mixed mood on National Multi Commodity Exchange (NMCE). The March contract concluded at Rs 143.21 (143.68), April at Rs 148.08 (148.32), May at Rs 151.38 (151.33) and June at Rs 153.76 (153.52) a kg for RSS 4. RSS 3 weakened at its March futures to ¥276 (¥278.9) (Rs 143.11), April to ¥278.5 (¥282), May to ¥280.1 (¥284.4), June to ¥281.7 (¥286.3), July to ¥283 (¥287.9) and August to ¥284.6 (¥289.7) a kg during the day session on Tokyo Commodity Exchange (TOCOM). The grade improved at its March futures to ¥278.4 (Rs 144.37), April to ¥280.3, May to ¥281.3, June to ¥283, July to ¥284.5 and August to ¥286.3 a kg during the night session. RSS 3 closed at Rs 149.16 (149.14) a kg on Singapore Commodity Exchange (SICOM). The grade firmed up to Rs 150.41 (150.26) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 143.50 (143); RSS-5: 140.50 (140); ungraded: 139.50 (138.50); ISNR 20: 138.50 (138) and latex 60 per cent: 92 (91).