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Tuesday, May 24, 2022

India: Spot rubber inches up on short covering


The domestic rubber prices improved on Thursday. In spot, the prices increased following the sharp gains on the NMCE.

According to observers, covering purchases at lower levels kept the market firm during late trading hours. The trend was partially mixed as latex finished flat amidst low volumes.

Sheet rubber improved to Rs 160 (158) a kg, according to traders. The grade was quoted steady at Rs 158 a kg both at Kottayam and Kochi, according to Rubber Board.

RSS 4 flared up at its May series to Rs 158.56 (154.65), June to Rs 157.25 (153.51), July to Rs 155.20 (152.14) and August to Rs 153.25 (150.71) a kg while the September series continued to remain inactive on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) increased to Rs 155.79 (154.75) a kg at Bangkok. The May futures improved to ¥250 (Rs 136.69) from ¥247.5 during the day session but then slid to ¥249.5 (Rs 136.40) in the night session on Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4 160 (158); RSS-5: 155 (154); Ungraded: 150 (148); ISNR 20: 148 (147) and Latex 60 per cent: 102 (102).

Source: Business Line

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