Spot rubber rules steady

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Kottayam, Sept. 11

The domestic rubber prices were steady on Thursday. The market was totally in a holiday mood with only a few hours left to Onam. Traders continued to sideline the market and the inflow of the raw material hit the bottom lines. RSS 4 closed flat at Rs 141 a kg as on Wednesday.

The market will remain closed on Friday on account of Onam. Acute short supply and the rains around the clock dampened the sentiments to a great extent even amidst the festive season. According to observers any visible change is expected only after the Onam holidays.

Futures weak

Meanwhile, the trend-setting Japanese rubber futures finished in red registering marginal losses as it recovered partially on late trading followed by short covering at lower levels. The September contract RSS 3 finished weak at ¥326.6 (Rs 138.7) against ¥326.9, October at ¥319.2 (319.9), November at ¥313.5 (314.7), December at ¥306.4 (307.4), January at ¥302.3 (304) and February at ¥301.6 (301.8) a kg at TOCOM. Its spot closed at Rs 133.77 (133.18) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 141 (141); RSS-5: 138 (138); ungraded: 136 (136); ISNR 20: 130 (130) and latex 60 per cent: 81 (81).

Taken from Business Line

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