Spot rubber improves on covering buys

Spot rubber improves on covering buys

Kottayam, April 23

Spot rubber turned better on Friday. Weekend covering purchases kept the market comparatively firm as the domestic futures showed a positive mood on NMCE. Sheet rubber improved to Rs 167.50 from Rs 167 a kg amidst dull volumes. There were no quantity sellers or buyers on any grade and the trend was mixed.

Futures improve

The May futures for RSS 4 improved to Rs 167.55 (165.59), June to Rs 170.20 (168.77), July to Rs 169.60 (167.93) and August to Rs 167 (165.50) a kg on National Multi Commodity Exchange (NMCE). The April futures expired at ¥455.4 (¥450) (Rs 216.50) and May futures improved to ¥405 (¥392) while the June futures slipped to ¥355.3 (¥355.9), July to ¥337.2 (¥337.9), August to ¥323.2 (¥325.7) and September to ¥315.7 (¥318.3) a kg for RSS 3 during the day session on Tokyo Commodity Exchange. RSS 3 closed at Rs 181.25 (181.04) a kg on Singapore Commodity Exchange (SICOM). It firmed up to Rs 177.79 (177.43) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 167.50 (167); RSS-5: 165 (165); ungraded: 164 (163); ISNR 20: 161 (161) and latex 60 per cent: 106 (106).