The domestic rubber prices strengthened on Monday. “We could not observe any fundamental reason for the current uptrend yet” a trader said. “The arrivals to the local trading houses are extremely poor and we are very close to the monsoon rains. But trading almost Rs.30.00 above the international price is still not convincing”.
Sheet rubber improved to Rs. 150.00 (148.00) per kg according to traders and the Rubber Board. The grade was firm at Rs.147.00 (145.00) per kg as quoted by the dealers.
The June futures increased to Rs.152.35 (150.17), July to Rs.153.53 (151.75), August to Rs.151.50 (150.50) and September to Rs.150.00 (149.99) per kg on National Multi Commodity Exchange (NMCE). RSS 3 (spot) weakened to Rs. 122.96 (123.63) a kg at Bangkok. The May futures expired at ¥ 194.3 (Rs. 112.06) per kg while the June futures inched up to ¥ 196.1 (Rs. 113.14) from ¥ 196.0 per kg on Tokyo Commodity Exchange
The spot rubber rates per kg follow: RSS-4: 150.00 (148.00) RSS-5: 146.00 (145.50) Ungraded: 142.50 (142.00) ISNR 20: 141.00 (140.00) and Latex 60%: 121.00 (119.50)
– The Hindu
