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Saturday, November 27, 2021

India: Mixed trend in spot rubber


Spot rubber was mixed on Monday. The trend was partially bullish as certain counters strengthened on comparatively better demand. Another weak closing in domestic futures kept RSS 4 under pressure during late trading hours.

Meanwhile, the key TOCOM rubber futures hit the highest in two weeks tracking a weaker yen. But the gains were limited by the data showing an uneven economic recovery in the world’s top rubber consumer China.

Sheet rubber finished flat at Rs 163 a kg, according to traders. The grade improved to Rs 162.50 (161.50) a kg at Kottayam and Kochi, according to Rubber Board.

March futures weakened to Rs 160.70 (162.35), April to Rs 164.60 (165.99), May to Rs 168.36 (169.81), June to Rs 171.50 (172.21) and July to Rs 172.72 (175.56), while the August series firmed up to Rs 176 (173) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) closed marginally higher at Rs 166.88 (166.02) a kg at Bangkok. The March futures increased to ¥283.8 (Rs 160.83) from ¥279.9 a kg during the day session but then slid to ¥282.7 (Rs 160.21) a kg in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 163 (163); RSS-5: 160 (159.50); ungraded: 157 (156); ISNR 20: 159 (158) and latex 60 per cent: 105 (105).

SOurce: Business Line

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