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Our Correspondent

Kottayam , March 9

Buying at lower levels kept the spot rubber rates steady on Thursday. Guided by firm international futures, the prices appeared to be stabilising at the prevailing levels as selling from dealers and growers reduced considerably.

According to sources, the enquiries from the tyre sector rescued spot rubber from declining further. Sheet rubber closed flat at Rs 78 a kg at Kottayam. The grade improved to Rs 78.50 from Rs 78.25 a kg at Kochi. Covering groups also turned optimistic as major manufactures and other sectors extended support to the market.

The rubber futures showed a better trend on NMCE. The March contract was quoted at Rs 78.60 (Rs 77.94), April contract at Rs 81.90 (Rs 80.42), May contract at Rs 84.50 (Rs 83.01) and June contract at Rs 86.40 (Rs 84.88) per kg for RSS 4. The smart recovery in Japanese futures after a weak opening infused fresh hopes for a revival, sources said.

The trading volumes till noon totalled 1,892 lots recording 238 lots in March, 436 lots in April, 821 lots in May and 397 lots in June.

After touching an intra-day low at 230 yen, the April futures for RSS 3 bounced back to close at 239.6 yen (Rs 90.50) against 235.2 yen a kg at TOCOM. But the grade declined to Rs 90.34 from Rs 92.43 per kg at Bangkok spot.

The physical rubber prices per kg were: RSS-4 : Rs 78 (Rs 78); RSS-5 Rs 77 (Rs 77); Ungraded Rs 76 (Rs 76);

ISNR 20 Rs 77 (Rs 77); and latex 60%( per litre): Rs 55 (Rs 55).

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