Spot rubber prices steady

Spot rubber prices steady


Kottayam, Sept 29

Physical rubber prices ruled steady on Wednesday. The market managed to sustain at current levels mainly on supply concerns. Sheet rubber closed flat at Rs 168.5 a kg in main marketing centres. The transactions were low. According to observers, domestic rubber prices are likely to rise as heavy showers are affecting the production. Tapping usually slows down during rainy season in Kerala. The State may receive more rains in the next couple of days as per weather forecasts.

Futures weak

In futures, the October series weakened further to Rs 171.5 (172.37), November to Rs 173.3 (175.23), December to Rs 176.04 (177.19) and January to Rs 178.25 (179.17) a kg for RSS 4 on the National Multi Commodity Exchange. The volumes totalled 3,216 lots and open interest 4,059 lots. The turnover was Rs 55.98 crore.

RSS 3 improved marginally at its October futures to ¥297.3 (Rs 159.49) from ¥295 during the day session and then to ¥298.8 (Rs 160.45) a kg during the night session on Tokyo Commodity Exchange. RSS 3 (spot) closed at Rs 161.45 (161.26) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 168.5 (168.5); RSS-5: 165 (165); ungraded: 162 (162); ISNR 20: 163 (163) and latex 60 per cent: 115.5 (115.5).