Kottayam, April 5
Spot rubber prices flared up further on Monday. The market continued to explore new highs, catalysed by the gains in the domestic and international rubber futures mainly on the Tokyo Commodity Exchange (TOCOM). Supply concerns haunted the traders and scattered summer rains failed to enhance the arrivals even after the Easter holidays. Sheet rubber hit yet another magical record high of Rs 160 (158) a kg amidst comparatively low volumes. The grade is expected to cross Rs 170 a kg shortly if the current climatic condition persists in the days ahead, an observer said.
Futures improve
The April futures improved to Rs 160.20 (159.50), May to Rs 163.66 (163.37), June to Rs 165.51 (165.06) and July to Rs 164.53 (163.97) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 firmed up with the April futures to ¥346.5 (¥338), May to ¥349.9 (¥335), June to ¥347.2 (¥331.9) and July to ¥332.9 (¥319.2) a kg during the day session on TOCOM. RSS 3 closed firm at Rs 159.29 (157.57) a kg on Singapore Commodity Exchange. It improved to Rs 162.97 (161.63) a kg at Bangkok.
Spot prices were (Rs/kg): RSS-4: 160 (158); RSS-5: 158 (156.50); ungraded: 156 (155.50); ISNR 20: 157 (155) and latex 60 per cent: 101 (100).
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