KOTTAYAM, MARCH 21:
Physical rubber prices finished firm on Wednesday. The market opened steady and improved further as sellers stayed back expecting the market to reach further highs.
A sharp recovery in Bangkok spot and the positive bias in domestic sentiments kept the buyers active in sheet rubber during closing hours. The trend was partially mixed as ISNR 20 remained flat amidst low demand.
Rising for the second straight session, the Key Tokyo rubber futures ended in green following the US Federal Reserve’s decision to maintain aggressive monetary policy to stimulate the economy.
In spot, sheet rubber improved to Rs 165.00 (Rs 163.50) a kg according to traders. The grade increased to Rs 164.50 (Rs 163.50) both at Kottayam and Kochi, according to the Rubber Board.
In futures, the April contracts firmed up to Rs 166.80 (Rs 166.08); May Rs 169.87 (Rs 168.99); June Rs 171.53 (Rs 170.88); July Rs 172.64 (Rs 171.49) and August to Rs 172.40 (Rs 170.05) on the National Multi Commodity Exchange.
RSS 3 (spot) flared up to Rs. 161.77 (Rs 158.61) at Bangkok. March futures moved up to ¥263.9 (Rs 150.07) on Tokyo Commodity Exchange.
Spot rubber rates Rs/kg: RSS-4: 165.00 (163.50); RSS-5: 162.00 (161.00); Ungraded: 160.00 (158.00) ISNR 20: 160.00 (160.00) and Latex 60%: 111.00 (110.00).
Source: Business Line
