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Our Correspondent

Kottayam , Oct. 18

FRESH buying interest initiated another uptrend in the spot rubber market on Monday. The covering groups pushed up the prices by offering better quotations, while purchases from the North Indian sector, the general rubber goods sector and exporters supported the major grades.

Natural rubber (NR) prices are now firming up at the global level, following the consistent rise in oil prices and solid rubber (SR) becoming more costly. Hence, the operators in the export market appeared optimistic of a further improvement in the domestic NR prices. Sheet rubber RSS 4 closed at Rs 53 against Rs 52.50 on Saturday.

The National Multi-Commodity Exchange of India (NMCE) futures followed abetter trend, quoting the near-month November delivery at Rs 54.36 (54.01) a kg on Monday. The December delivery was quoted at Rs 54.72 (54.51), January delivery at Rs 55.84 (55.59) and February delivery at Rs 56.97(56.53) per kg for RSS 4. The volumes were average.

The spot market rates per kg on Monday were: RSS 4 Rs 53 (Rs 52.50); RSS 5: 52.25 (52); ungraded: Rs 49.75 (Rs 49.25); ISNR 20: Rs 52 (Rs 51.75); and latex 60 per cent: Rs 40.50 (Rs 40).

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