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Rubber steady on covering purchases

Our Correspondent

Kottayam , Feb. 18

DOMESTIC spot rubber closed unchanged for the fourth day on Friday.

Covering purchases neutralised the impact of selling from dealers and traders, but the transactions were extremely low. Major buyers kept off as usual and selling from growers was also reported to be almost nil. RSS 4 made a static close at Rs 50.75 in Kochi and Rs 50.50 a kg in Kottayam as on Thursday.

Reflecting the spot market mood, the rubber futures were quoted almost steady against a weak trend at TOCOM. The March contract was traded at Rs 51.77 (Rs 51.75), April at Rs 55.28 (Rs 55.08), May at Rs 56.95 (Rs 56.80) and June at Rs 57.89(57.86) per kg for RSS 4. The volumes were narrow.

RSS 3 was steady at Rs 56.09 in Bangkok. At TOCOM, the March futures for RSS 3 weakened to 131.8 yen from 132.9 yen.

The physical rubber prices (per kg) were as follows: RSS-4: Rs 50.50 (Rs 50.50); RSS-5: Rs 49.25 (Rs 49.25); ungraded: Rs 48.50 (Rs 48.50); ISNR 20: Rs 50 (Rs 50); and latex 60 per cent at Rs 38 (Rs 38).

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