KOTTAYAM, OCT. 25:
Spot rubber ruled steady on Thursday. There were no fresh initiatives to set a definite trend in the market and it continued to remain in a holiday mood even after the Pooja holidays and on the eve of Id-ul-Zuha.
Sentiments were badly affected by the difference between the domestic and international rates and the absence of major manufacturers in the buyers’ side as the commodity is slowly moving into the peak production season.
Sheet rubber was quoted unchanged at Rs 177 0 a kg, according to traders. The grade closed steady at Rs 178 at Kottayam and Kochi, as reported by the Rubber Board.
In the futures market, November contracts improved to Rs 179.35 (Rs 177.91), December Rs 180.20 (Rs 178.56), January Rs 182.20 (Rs 180.52) and February Rs 184.89 (Rs 182.78) while the March and April contracts remained totally inactive on the National Multi Commodity Exchange.
RSS 3 (spot) firmed up to Rs 163.82 (Rs 163.43) a kg at Bangkok. The October futures expired at ¥246.6 a kg, while the November futures increased to ¥251.5 from ¥241.9 during the day session on the Tokyo Commodity Exchange.
Spot rubber rates (Rs/kg): RSS-4: 177 (177); RSS-5: 173 (173); Ungraded: 166 (166); ISNR 20: 161 (161) and Latex 60%: 120 (120).
Source: Business Line
