India Rubber: Ends largely unchanged on ICEX on spot cues; TOCOM up

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By Rahul Dhuri

MUMBAI – contracts on the Indian Commodity Exchange ended largely unchanged today, tailing spot markets in Kerala, traders said. The most-active September contract settled at 13,995 rupees per 100 kg, almost flat from the previous close.

Today, natural in key markets of Kerala were steady as tepid buying from tyre makers negated gains due to demand from domestic stockists, said Thaha Mohamed, the owner of Sara Traders based in Kottayam.

Demand from stockists rose on expectations of a delay in arrivals in the peak (Oct-Dec) season, Mohamed added.

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The widely-traded -4 variety was sold at 139-140 rupees per kg in Kochi and Kottayam, unchanged from the previous close, traders said. data showed price of the RSS-4 variety remained unchanged in both the markets. It was 140.00 rupees per kg in Kottayam and 139.50 rupees per kg in Kochi.

On the global front, benchmark rubber contracts on Commodity Exchange rose today tracking key contract of crude on New York Mercantile Exchange, analysts said. Prices of natural rubber take cues from those of crude , which is used to make .

The February contract of natural rubber on TOCOM ended up 0.4% at 165.7 yen (around 111.0.7 rupees) per kg.

In Thailand, prices of the RSS-3 variety fell $1.1 to $154.60 per 100 kg, according to Rubber Board data.

The following table shows today’s closing prices of rubber, in rupees per kg, as detailed by the Rubber Board, and the change in prices, in rupees, compared with the previous close:

KOTTAYAM KOCHI
GRADE PRICE CHANGE PRICE CHANGE
RSS-4 140.00 Unch 139.50 Unch
RSS-5 136.00 Unch 136.00 Unch
ISNR-20 113.00 Unch NA      NA
Latex 106.75 Unch NA      NA

OUTLOOK

The overall sentiments in the remains bearish on expectations of a rise in rubber imports amid subdued demand from tyre makers. However, demand from domestic stockists is likely to prevent any sharp fall, traders said.  End

US$1 = 71.70 rupees

Edited by Mainak Moitra

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