Market on April 18: Spot rubber rules steady

KOTTAYAM, APRIL 18:

Spot rubber closed unchanged on Wednesday. The undercurrent was weak but the market managed to sustain at the prevailing levels on supply concerns. According to observers, there were no quantity buyers on any grade to keep the prices firm during closing hours.

Sheet rubber finished flat at Rs 196 a kg, according to traders. The grade firmed up Rs 196.50 (196) a kg both at Kottayam and Kochi, as quoted by the Rubber Board.

RSS 4 weakened with May contracts dropping to Rs 194.75 (196.24), June to Rs 199.65 (201.28), July to Rs 203 (204.99) and August to Rs 204 (205.50) a kg on the National Multi Commodity Exchange.

TOCOM rubber futures recaptured a part of its losses after hitting a three-month low on Tuesday, gaining more than two per cent.

RSS 3 (spot) inched up to Rs 197.72 (197.64) a kg at Bangkok. The April futures bounced back to ¥294.7 (Rs 186.93) from ¥286.9 a kg during the day session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 196 (196); RSS-5: 194.25 (194.25); ungraded: 190 (190); ISNR 20: 195 (195) and latex 60 per cent: 127 (127).

Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article3328801.ece