Spot rubber rules steady

Spot rubber rules steady


Kottayam, Oct. 26

Physical rubber prices continued to rule unchanged on Tuesday. According to observers, the market failed to move in tandem with the gains in futures as buyers stayed away following a favourable change in weather. Sheet rubber closed flat at Rs 189.50 a kg in the main marketing centres.

As reported by the Rubber Board, the grade was steady at Rs 188.50 a kg at Kottayam and Kochi. Though the uptrend in prices is good for rubber growers, if it sustains beyond a limit it would impact adversely on them as long as it affects the trading community.

The medium and small units as a whole are suffering a lot now as the prices are up beyond their purchasing power, Mr Sajen Peter, outgoing Chairman told Business Line. The price if rules above the international level may not be promising to the industry.

Futures gain

In futures, the November series flared up to Rs 192.06 (187.18), December to Rs 194.60 (188.79), January to Rs 196.80 (191.59) and February to Rs 200.25 (195.37) a kg for RSS 4 on the National Multi Commodity Exchange.

RSS 3 weakened at its November futures to ¥327.8 (Rs 179.53) from ¥329.5 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange. The grade (spot) improved marginally to Rs 178.81 (178.77) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 189.50 (189.50); RSS-5: 179 (179.50); ungraded: 174 (174); ISNR 20: 185.50 (185.50) and latex 60 per cent: 121 (121).