KOTTAYAM, JAN. 1:
Physical rubber prices ruled steady on Monday, The sentiments were neutral during the first trading day of the New Year since the leading international trend setters were on long holidays. “We expect the domestic markets to become more active once TOCOM resumes trading on Friday,” an observer said.
Sheet rubber finished unchanged at Rs 162.50 a kg, according to traders. The grade weakened to Rs 162 (162.50) a kg at Kottayam and Kochi, according to the Rubber Board.
January contracts slipped to Rs 164.50 (164.81), February to Rs 167 (167.18) March to Rs 170 (170.01) and April to Rs 175 (175.96) a kg, while the May and June contracts remained inactive on the National Multi Commodity Exchange.
According to reports, Indian rubber futures fell on sluggish demand from tyre makers, though the losses were limited owing to extremely thin supplies. “The tyre companies are reducing their dependency on local supplies and increasing imports”, dealers said.
Spot rates were (Rs/kg) were: RSS-4: 162.50 (162.50); RSS-5: 157 (157); ungraded: 152 (152); ISNR 20: 151.50 (151.50) and latex 60 per cent: 105.50 (105.50).
Source: Business Line
