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Monday, August 15, 2022

India: Spot rubber closes flat


The mixed trend continued in spot rubber on Monday. According to sources, the market failed to improve on concerns over the end of the current financial year. There were no genuine buyers in the local scene to trigger an upside move in the commodity and it lost ground partially on buyer resistance.

Sheet rubber finished unchanged at Rs 157 a kg, both at Kottayam and Kochi, according to traders. The transactions were dull.

In the futures market, the March series improved to Rs 156.75 (Rs 155.68), April Rs 161.50 (Rs 160.60), May Rs 165.19 (Rs 164.51) and June Rs 167.25 (Rs 166.50) a kg while the July series remained inactive on the National Multi Commodity Exchange.

RSS 3 (spot) closed firm at Rs 162.99 (Rs 160.61) a kg at Bangkok. March futures increased to ¥270.5 (Rs 158.65) in the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg were: RSS-4: 157.00 (157.00); RSS-5: 152.00 (153.00); Ungraded: 147.00 (147.00); ISNR 20: 153.00 (153.50) and Latex 60%: 100.00 (100.00).

Source: Business Line

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