KOTTAYAM, JULY 18:
Spot rubber finished firm on Thursday.
The market extended gains on fresh buying and short covering catalysed by the overall gains in domestic futures on the National Multi Commodity Exchange.
Though the commodity was visibly bullish, the market indicator RSS 4 failed to regain strength on buyer resistance possibly due to the gap between the local and futures markets. The sentiments were led by sustained rains and supply concerns.
Sheet rubber closed unchanged at Rs 191 a kg, according to the traders. The grade improved to Rs 191 (190) at Kottayam and Kochi, as reported by the Rubber Board. The trend was mixed.
August futures firmed up to Rs 189.82 (Rs 187.08), September to Rs 179.75 (Rs 177.06), October to Rs 171.60 (Rs 169.11), November to Rs 165.48 (Rs 164.85) and December to Rs 164.80 (Rs 164.67) on the NMCE.
RSS 3 (spot) dropped to Rs 151.16 (Rs 151.18) at Bangkok.
July futures increased to ¥ 245.3 (Rs 146.25) on the Tokyo Commodity Exchange.
Spot rubber rates RS/kg were : RSS-4: 191 (191); RSS-5: 187 (186); Ungraded: 177 (175); ISNR 20: 176 (176) and Latex 60 per cent: 153 (151).
Source: Business Line
