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Monday, August 15, 2022

Rubber skids on lack of buying

KOTTAYAM, FEB. 20:

The domestic rubber futures finished weak on Wednesday. The March series slid to Rs 156.45 (157.49), April to Rs 159.80 (161.09), May to Rs 163.64 (164.47) and June to Rs 165.14 (167) a kg while the July series remained inactive on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) declined to Rs 172.52 (176.71) a kg at Bangkok. The February futures for the grade surrendered to ¥288 (Rs 166.42) from ¥297.10 during the day session and then to ¥287.5 (Rs 166.13) in the night session on Tokyo Commodity Exchange (TOCOM).

The key TOCOM rubber futures hit a three-week low following Thailand’s move to terminate its rubber intervention scheme by the end of March.

The spot rubber prices were not available owing to the forty-eight hour all India general strike declared by the trade unions.

Source: Business Line

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