KOTTAYAM, FEB. 1:
Domestic rubber prices showed a better trend on Friday. In spot, the market opened weak but regained strength during late trading hours following a sharp recovery in domestic futures. Sentiments were also catalysed by a rebound in the key TOCOM rubber futures which edged higher reacting to a weak yen.
According to traders, sheet rubber firmed up to Rs 157 (156.50) after hitting an intra-day low of Rs 165 a kg on early trades. The grade finished flat at Rs 157 a kg at Kottayam and Kochi, according to Rubber Board.
The February series improved to Rs 159.47 (155.42), March to Rs 161.75 (157.51), April to Rs 164.89 (160.50) and May to Rs 168.90 (164.30) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) weakened to Rs 173.77 (174.33) a kg at Bangkok. The February futures increased to ¥300.4 (Rs 173.49) from ¥293.3 during the day session and then to ¥306.9 (Rs 177.22) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 157 (156.50); RSS-5: 152.50 (152); ungraded: 147 (145); ISNR 20: 153 (152) and latex 60 per cent: 103.50 (103).
Source: Business Line
