The Hindu Business Line : Rubber prices remain steady

SPOT rubber prices were steady even amidst an upsurge in the major overseas markets on Monday. Sellers turned cautious as the international indices were bullish, but the buyers continued to keep a low profile.

According to sources, the prices may decline further as the production is expected to improve gradually in the months ahead.

Sheet rubber RSS 4 closed unchanged at Rs 56 and Rs 55.50 a kg respectively at Kottayam and Kochi as on Saturday.

The NMCE rubber futures posted smart gains quoting the September delivery contract at Rs 56.65 (Rs 55.78), October at Rs 55.40 (Rs 54.44), November at Rs 55 (Rs 54.09) and December at Rs 54.70 (Rs 54.05) a kg for RSS 4. The volumes till 1.30 p.m. were dull at 1,767 lots; recording 1,351 lots in September, 298 lots in October, 75 lots in November and 43 lots in December.

The September futures for RSS 3 improved sharply by 6 yen to close at 168 yen, against 162 yen at TOCOM.

The grade flared up to Rs 66.83 from Rs 65.89 a kg at Bangkok spot.

The physical rubber prices per kg were: RSS-4 Rs 56 (Rs 56); RSS-5 Rs 53.50 (Rs 53.50); ungraded Rs 50 (Rs 50); ISNR 20 Rs 52.50 (Rs 52.50); and latex 60% Rs 37.50 (Rs 37.50).

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