KOTTAYAM, MAY 7:
Spot rubber improved on Tuesday despite a weak closing on the National Multi Commodity Exchange.
According to observers, sharp gains in the international markets and local supply concerns kept prices firm.
The market may experience moderate selling pressure at higher levels in the succeeding days if the weakness continues to persist in domestic futures, they said.
Meanwhile, Tokyo rubber futures gained more than five per cent to a three-week high, tracking the rally in global stock markets and supported by a weak yen as the market reopened after the long holidays.
Sheet rubber improved to Rs 167 (Rs 166) a kg at Kottayam and Kochi, according to traders and the Rubber Board.
The trend was partially mixed.
RSS 4 weakened with May contracts slipping to Rs 164.90 (Rs 167.30), June to Rs 165.00 (Rs 167.44), July to Rs 162.80 (Rs 165.32) and August to Rs 161.00 (Rs 162.43) a kg on the NMCE.
RSS 3 (spot) flared up to Rs 162.45 (Rs 157.30) a kg at Bangkok.
May futures closed at Rs.142.23 on the Tokyo Commodity Exchange
Spot rubber rates Rs/kg were: RSS-4: 167 (166); RSS-5: 163 (162); Ungraded: 157 (157); ISNR 20: 156.50 (156) and Latex 60%: 105 (104.50).
Source: Business Line
