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Wednesday, August 17, 2022

Spot rubber flat on weak cues


Spot rubber was steady on Monday. The market remained neutral following the overall weakness in domestic and international futures. Sheet rubber closed unchanged at Rs 157 a kg at Kottayam and Kochi, according to traders and the Rubber board.

Meanwhile, the key TOCOM rubber futures ruled weak amidst growing worries over the US and euro zone economies though the trend setter opened firm tracking a weak yen. In futures, the March series declined to Rs 156.85 (157.55), April to Rs 161.02 (161.83) and May to Rs 164.50 (165.31) while the June series improved to Rs 167.49 (166.50) a kg for RSS 4 on the National Multi Commodity Exchange (NMCE).

RSS 3 weakened at its March futures to ¥281.3 (Rs 161.53) from ¥282.2 during the day session and then to ¥278.8 (Rs 160.11) in the night session on Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4: 157 (157); RSS-5: 152 (152); Ungraded: 147 (147); ISNR 20: 152 (152) and Latex 60 per cent: 99 ( 99).

Source: Business Line

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