Spot rubber prices improve

Spot rubber prices improve

Kottayam, March 10

Physical rubber prices turned better on Wednesday. According to observers, the market moved up on supply concerns followed by fresh buying and short covering as speculators remained active in the main marketing centres. Sheet rubber increased to Rs 144.50 from Rs 144 a kg recording yet another all-time high during the session. The trend was mixed as RSS 5 finished flat amidst comparatively dull volumes.

Futures improve

RSS 4 improved at its March futures to Rs 144.12 (143.03), April to Rs 150.10 (148.17), May to Rs 153.70 (151.44) and June to Rs 156.80 (154.35) a kg on National Multi Commodity Exchange (NMCE). The March futures for RSS 3 closed at ¥289.6 (¥289.2) (Rs 145.35), April at ¥289.7 (¥289.6), May at ¥287.8 (¥290.7), June at ¥289.2 (¥292.3) and July at ¥290.4 (¥293.5) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 slipped further to Rs 149.30 (149.54) a kg on Singapore Commodity Exchange (SICOM).

The grade weakened to Rs 150.12 (150.40) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 144.50 (144); RSS-5: 142.50 (142.50); ungraded: 141.50 (141); ISNR 20: 142.50 (142) and latex 60 per cent: 94 (93.50).