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Sunday, November 28, 2021

India: Mixed trend in spot rubber


Spot rubber showed a mixed trend on Wednesday. The market shed the early gains partially in sheet rubber RSS 4, as certain traders were sellers in the counter following the sharp declines in Japanese futures. The grade slipped to Rs 162 (162.50) a kg at Kottayam and Kochi according to traders and the Rubber Board. According to sources, growers continued to hold the stocks expecting to take advantage of the low production season.

The Key TOCOM rubber futures fell on a second straight session as softer Chinese equity markets prompted investors to book profits. Signs of recovery in Yen added further fuel to the negative sentiments.

The March series concluded at Rs 160.10 (160.08), April at Rs 163.69 (163.37), May at Rs 166.85 (166.98), June at Rs 169.41 (170.15), July at Rs 172.50 (172.65) and August at Rs 178 (172.82) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) dropped to Rs 162.39 (165.23) a kg at Bangkok. The March futures nose dived to ¥266.4 (Rs 151.13) from ¥277 a kg during the day session and then to ¥261.8 (Rs 148.52) a kg in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 162 (162.50); RSS-5: 159 (159.50); ungraded: 156 (156); ISNR 20: 160 (159) and latex 60 per cent: 107 (105).

Source: Business Line

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