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Physical rubber prices improved on Thursday. The market gained strength on fresh buying and short covering despite a weak closing on the National Multi Commodity Exchange. According to observers, the sentiments were also catalysed by the bullish reports from domestic stock markets.
Sheet rubber increased to Rs 196 from Rs 195 and Rs 195.50 a kg, respectively, according to traders and the Rubber Board. The absence of quantity sellers kept the prices firm during late trading hours. The overall volumes were low.
The October series slipped to Rs 195.10 (195.98), November to Rs 191.11 (192.79), December to Rs 189.82 (191.44), January to Rs 189.99 (191.05) and February to Rs 190.10 (193.35) a kg, while the March series remained inactive on the NMCE.
RSS 3 (spot) dropped to Rs 174.93 (177.14) a kg at Bangkok. The October futures inched up to ¥267 (Rs 175.77) from ¥266.2 a kg during the day session and then to ¥267.1 (Rs 175.92) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 196 (195); RSS-5: 190 (189.50); ungraded: 184 (182); ISNR 20: 178 (176) and latex 60 per cent: 129 (128).
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