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Thursday, December 9, 2021

India: Sheet rubber rules steady on industry buy


Spot rubber was mixed on Wednesday.  Selected counters improved on fresh buying and short covering while the sentiments remained bullish on hopes that a long term recovery in prices is on the cards.

According to observers, major consuming industries were in the buyers queue though they preferred to keep a very low profile. The overall gains were limited lacking global guidance as the Tokyo Commodity Exchange remained closed on account of ‘Vernal Equinox Day’.

Sheet rubber finished unchanged at Rs 163.50 a kg according to traders. The grade increased further to Rs 163.50 (Rs 163.00) a kg both at Kottayam and Kochi as reported by the Rubber Board.

In futures, the April contracts improved to Rs 166.10 (Rs 165.34), May to Rs 169.10 (Rs 168.48), June to Rs 170.96 (Rs 170.50) a kg while the July and August contracts remained inactive on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) closed firm at Rs 158.61 (Rs 157.60) a kg at Bangkok.

Spot rubber rates Rs/kg were:   RSS-4: 163.50 (163.50); RSS-5: 161.00 (160.50); Ungraded: 158.00 (157.00); ISNR 20: 160.00 (160.00) and Latex 60%:  110.00 (109.25).

Source: Business Line

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