Natural rubber prices may remain sentiment-driven until there is some reassurance or resolution of global macroeconomic concerns, International Rubber Consortium chief secretary Yium Tavarolit said Tuesday.

While the overall market sentiments remained cautious followingthe steep decline in natural rubber prices in the international marketand expiry of the near month May rubber futures in NMCE, RSS4showed a mixed trend on Tuesday. In the spot market, pricesremained firm near Rs.194 a kg while NMCE rubber futures rebound.Fall in local natural rubber production and depreciating rupeeprovided firm support to the market. However, lackluster demandfrom tyre manufacturers and high imports may limit gains. In themeantime, IMD’s forecast show that Southwest monsoons are set tolash over Kerala coast by June 01.

Higher sales, lower material costs and increased capacity at its new plant helped tyre maker CEAT to post a healthy result for the quarter ending march 2012. However, on a full year basis, due to higher interest costs, its profits for FY12 were lower by 33% to Rs 18 crore.

TOKYO (Commodity Online): Uncertainty revolving around the commodity market in Europe due to the rising fear over Greece exit, the rubber futures in Tokyo Commodity Exchange (TOCOM) for October delivery plunged 2.2 yen at 267.9 yen per Kg on Wednesday.