India: Spot rubber shows a mixed mood

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Spot rubber showed a mixed mood on Thursday. RSS 4 was quoted steady at Rs.137.50 per kg by . The same improved to Rs.137.50 (137.00)  and Rs.133.50 (133.00) per kg  respectively according to and Dealers. The opened higher but the lost the initial strength later on buyer . Meanwhile RSS 5 and ISNR 20 continued to post moderate gains on enquiries from the non tyre sector.

In futures, the February contracts firmed up to Rs. 142.62 (142.41), March to Rs.145.48 (144.98) and April to Rs.148.84 (148.61) per kg on the Indian Commodity Exchange (ICEX). The near month February futures was up by 0.15% with a volume of 415 lots and total value of 593.11 Lakh.

“The ICEX Rubber  February tested a high of 14390.00 and has been declining since then on account of profit booking at higher levels. The short term still remains positive and we expect further upsides in prices once it breaks above the resistance at 14400.00”, said Mr Akshay Agarwal, Managing Director, Acumen Capital

RSS 3 (spot) inched up to Rs.117.76 (117.46) per kg at Bangkok. The January futures concluded at Rs.112.88 (111.87), February at Rs.115.46 (115.49) and March at Rs.125.58 (124.52) per kg on the ().

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Spot rubber rates (Rs/kg) were:

RSS-4 137.50 (137.50)
RSS-5 133.00 (132.00)
ISNR 20 118.00 (117.50)
Latex (60% drc) 85.5(85.50)

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