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Monday, May 23, 2022

India: Downtrend softens rubber prices

KOTTAYAM, APRIL 23:

The domestic rubber prices finished weak on Tuesday.

In spot, prices slipped tracking the declines in trend setting futures markets but the losses were limited on supply concerns. There were no fresh enquiries from major consuming industries and they still appeared to be comfortable with their imports.

Sheet rubber slipped to Rs 158.00 (Rs 159.00) a kg both at Kottayam and Kochi according to traders and the Rubber Board.

The trend was partially mixed. The May contracts dropped to Rs 154.90 (Rs 155.11), June to Rs 153.68 (Rs 154.12), July to Rs 152.20 (Rs 153.50) and August to Rs 151.00 (Rs 152.17).

The September contracts remained inactive on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) improved to Rs 154.13 (Rs 152.02) at Bangkok.

April futures declined to ¥240.0 (Rs 132.41) at the Tokyo Commodity Exchange.

The spot rubber rates/were: RSS-4: 158.00 (159.00); RSS-5: 154.00 (155.00); Ungraded: 148.00 (150.00); ISNR 20: 147.00 (147.00) and Latex 60%: 102.00 (103.00).

Source: Business Line

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