The Hindu Business Line : Rubber picks up

THOUGH the uptrend in the rubber market was temporarily arrested on Saturday last with the prices declining for all grades on reports of imports, the market regained on Monday as the prices picked up to touch Rs 44.50 a kg for RSS-4.

On Monday, sellers again stayed away as they discarded the propaganda for the import of 30,000 tonnes of by the Automotive Tyre Manufacturers' Association (ATMA). The buyers on the other hand were not hesitant to procure rubber from any sources available as covering purchases continued to dominate the market trying for better catches offering higher rates. Meanwhile, North Indian buyers for ungraded rubber quoted higher rates to bring up its price to Rs 38.50 a kg.

On Monday, sheet rubber RSS 4 was quoted at Rs 44.50 a kg from Rs 43.50 on Saturday, while RSS 5 firmed up to Rs 42 from Rs 41 on the previous day. Ungraded and block rubber picked up to Rs 38.50 from Rs 38 and to Rs 40.50 from Rs 40.00 respectively. The price of latex 60 per cent remained steady at Rs 32.50.

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