By Rahul Dhuri
MUMBAI – Rubber 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 rubber prices 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.
The widely-traded RSS-4 variety was sold at 139-140 rupees per kg in Kochi and Kottayam, unchanged from the previous close, traders said. Rubber Board 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 Tokyo Commodity Exchange rose today tracking key contract of crude oil on New York Mercantile Exchange, analysts said. Prices of natural rubber take cues from those of crude oil, which is used to make synthetic rubber.
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:
The overall sentiments in the rubber market 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