Kottayam: Spot rates surrendered led by a slip in international and domestic rubber futures on Tuesday. According sources, the market lacked aggressive buyers even in the absence of any notable selling from growers and dealers. Major manufacturers were uninterested to give enhanced quotes for sheet rubber and it moved down to Rs 94 from Rs 94.50 a kg both at Kottayam and Kochi amidst dull volumes.
Futures weak
On MCX, the March futures ended at Rs 96.75 against Rs 97.25 a kg for RSS 4. The February contract finished marginally weak at Rs 94.76 (95.02), and March at Rs 96.70 (97.02) while the April contract was almost steady at Rs 99.45 (99.49) and May at Rs100.90 (101.05) per kg on NMCE.
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The market sustained at current levels possibly depending on strong Bangkok rates, an observer said. Spot prices were (Rs/kg): RSS-4: 94 (94.50); RSS-5: 91.50 (92); ungraded: 90 (90.50); ISNR 20: 91 (91.50) and latex 60 per cent: 58.50 (58.50).
Futures weak
On MCX, the March futures ended at Rs 96.75 against Rs 97.25 a kg for RSS 4. The February contract finished marginally weak at Rs 94.76 (95.02), and March at Rs 96.70 (97.02) while the April contract was almost steady at Rs 99.45 (99.49) and May at Rs100.90 (101.05) per kg on NMCE.
• Quarterly results of corporates: Check out
The market sustained at current levels possibly depending on strong Bangkok rates, an observer said. Spot prices were (Rs/kg): RSS-4: 94 (94.50); RSS-5: 91.50 (92); ungraded: 90 (90.50); ISNR 20: 91 (91.50) and latex 60 per cent: 58.50 (58.50).
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