Speculative buying keeps spot rubber prices firm .

Kottayam, April 14 Physical rubber prices firmed up further on Wednesday. The market made smart gains mainly on speculative buying as the sentiments were bullish amidst tight supplies and higher global rates. Sheet rubber improved to Rs 164.50 from Rs 163.50 a kg, while the volumes were extremely low and there were buyers for the grade up to Rs 165 during closing hours.

Futures improve

RSS 3 improved at the April futures to ¥366.5 (¥365) (Rs 173.20), May to ¥361.4 (¥358.5), June to ¥354.8 (¥352.7), July to ¥347.6 (¥345.5), August to ¥337.8 (¥335.3) and September to ¥329.8 (¥328) a kg during the day session on Tokyo Commodity Exchange (TOCOM).

The April futures closed at ¥366.5, May at ¥362, June at ¥357, July at ¥350, August at ¥338.6 and September at ¥331.1 a kg on late trades. RSS 3 increased to Rs 175.49 (173.67) a kg on Singapore Commodity Exchange.

Spot prices were (Rs/kg): RSS-4: 164.50 (163.50); RSS-5: 162.50 (162); ungraded: 161 (160); ISNR 20: 161 (161) and latex 60 per cent: 104 (102).

Source : Business Line