KOTTAYAM, APRIL 19:
Spot rubber improved on Friday. The market strengthened on covering purchases at lower levels following a moderate recovery in Tokyo futures. But the gains were limited on buyer resistance.
Most of the traders stayed away as the National Multi Commodity Exchange remained closed on account of Ram Navami. The trend was mixed.
Sheet rubber firmed up to Rs 160 (Rs 159) a kg at Kottayam and Kochi, according to traders and the Rubber Board.
The TOCOM (Tokyo Commodity Exchange) rubber futures rebounded from a five-month low but ended with a 10 per cent weekly loss as a result of the weak Chinese data that curtailed the outlook for demand ahead of a seasonal pickup in output.
April futures were totally inactive but the May futures improved to ¥244 (Rs 132.47) from ¥ 234 a kg during the day session and then to ¥248 (Rs 134.61) a kg in the night session on (TOCOM). RSS 3 (spot) inched up to Rs 148.74 (Rs 148.71) a kg at Bangkok.
Spot rubber rates (Rs/kg): RSS-4: 160 (159); RSS-5: 155 (155); Ungraded: 150 (149); ISNR 20: 147 (147); and Latex 60 per cent: 105 (105).
Source: Business Line
