Kottayam: Spot rubber was almost steady despite a smart recovery in Japanese futures on Thursday. RSS 4 improved by 25 paise to Rs 101 a kg at Kottayam on scattered trading while the grade was static at the same level in Kochi. Traders seemed hesitant to enhance their quotes and major manufacturers stayed back letting the market to cool down the excess heat on over speculation. Run-up to Budget 2008-09
Futures firm
The domestic rubber futures stayed in tune with the global mood trading the March contract at Rs 101.49 (100.16) a kg on MCX. The March futures for RSS 4 improved to Rs 101.47 (99.94), April to Rs 104.30 (102.31), May to Rs 106.47 (104.55) and June to Rs 108.10 (106.83) per kg on NMCE. There has been some profit booking at higher levels especially in March which hit the initial daily upward limit of 2 per cent in the morning session. The open interest was 6,931 (6,787) tonnes.
Spot prices were (Rs/kg): RSS-4: 101 (100.75); RSS-5: 99 (99); ungraded: 96.75 (96.75); ISNR 20: 98.50 (98.50) and latex 60 per cent: 66 (66).
Futures firm
The domestic rubber futures stayed in tune with the global mood trading the March contract at Rs 101.49 (100.16) a kg on MCX. The March futures for RSS 4 improved to Rs 101.47 (99.94), April to Rs 104.30 (102.31), May to Rs 106.47 (104.55) and June to Rs 108.10 (106.83) per kg on NMCE. There has been some profit booking at higher levels especially in March which hit the initial daily upward limit of 2 per cent in the morning session. The open interest was 6,931 (6,787) tonnes.
Spot prices were (Rs/kg): RSS-4: 101 (100.75); RSS-5: 99 (99); ungraded: 96.75 (96.75); ISNR 20: 98.50 (98.50) and latex 60 per cent: 66 (66).
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