Spot rubber showed a mixed mood on Thursday. RSS 4 was quoted steady at Rs.137.50 per kg by traders. The same improved to Rs.137.50 (137.00) and Rs.133.50 (133.00) per kg respectively according to Rubber Board and Dealers. The market opened higher but the lost the initial strength later on buyer resistance. 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 trade 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 outlook 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 Tokyo Commodity Exchange (TOCOM).
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Spot rubber rates (Rs/kg) were:
|Latex (60% drc)