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Wednesday, August 17, 2022

Rubber rules flat on weak global cues


Spot rubber finished unchanged on Friday. The sentiments remained neutral lacking fresh incentives to trigger a definite trend in the market and prices managed to sustain at the prevailing levels amidst low volumes. Traders preferred to stay back mainly tracking yet another weak closing in the domestic and international futures.

Sheet rubber was steady at Rs 158 a kg, according to traders. The grade closed flat at Rs 157 a kg both at Kottayam and Kochi as reported by the Rubber Board.

RSS 4 weakened at the March futures to Rs 154.77 (156.54), April to Rs 159.59 (161.85), May to Rs 163 (166.03 ) and June to Rs 165.75 (168.16) a kg on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) slid to Rs 160.61 (161.48) a kg at Bangkok. The March futures declined to ¥267 (Rs 157.94) from ¥275.2 a kg during the day session and then to ¥266.2 (Rs 157.52) a kg in the night session on Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg): RSS-4: 158 (158); RSS-5: 153 (153); Ungraded: 148 (148); ISNR 20: 153.50 (153.50) and Latex 60 per cent: 100 (100).

Source: Business Line

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