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Spot rubber picks up on mild enquiries

Our Correspondent

Kottayam , July 15

SPOT rubber prices moved up once again on moderate enquires from the covering groups and purchase agents. At Bangkok spot, RSS 3 closed at Rs 73.11 against Rs 71.92 a kg on Thursday.

According to traders, the panic buying witnessed on Friday was initiated on export fears due to the widening gap between the domestic and international prices. Continuous showers since Thursday evening had put further pressure on speculators to cover their positions at higher levels amidst narrow arrivals.

Sheet rubber improved to Rs 65.50 both at Kottayam and Kochi from Rs 64.75 and Rs 65, a kg respectively while ISNR 20 and latex were flat and inactive.

The NMCE rubber futures improved on favourable international advices quoting the August contract at Rs 65.12 (64.74), September Rs 63.10 (62.72) and October contract at Rs 60.30 (60.10) per kg for RSS 4. The volumes continued to be sluggish with 572 lots in August, 238 lots in September and 21 lots in October till mid-session.

The August futures for RSS 3 improved further to 198.8 yen from 195.1 yen a kg at TOCOM.

Spot rubber prices a kg were as follows: RSS-4: 65.50 (64.75); RSS-5: 63 (62.50); ungraded: 60 (59.50); ISNR 20: 59 (59): and latex 60%: 41.50 (41.50).

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