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Wednesday, August 17, 2022

India: Spot rubber inches up


The domestic rubber prices finished higher on Tuesday.

According to sources, the market improved reacting favourably to the reports on import duty and a sharp recovery in stock markets.

In spot, the sentiments were also catalysed by a recovery on the NMCE and reports from the global scene.

Sheet rubber closed firm at Rs 159 (Rs 157) a kg, according to traders.

The grade increased to Rs 158 (Rs 157) both at Kottayam and Kochi as quoted by the Rubber Board.

In futures, the March series improved to Rs 158.59 (Rs 156.79), April to Rs 163.05 (Rs 161.48), May to Rs 166.49 (Rs 165.21) and June to Rs 168.50 (Rs 166.83) while the July series remained inactive on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) recovered to at Rs 164.30 (Rs 162.99) at Bangkok.

The March futures dropped to ¥271.5 (Rs 159.80) on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg): RSS-4: 159 (157); RSS-5: 154 (152); Ungraded: 151 (147); ISNR 20: 154 (153) and Latex 60 per cent: 101 (100).

Source: Business Line

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