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Monday, May 23, 2022

India: Spot rubber inches up


Spot rubber prices strengthened on Tuesday.

The sentiments were catalysed by a moderate recovery in domestic futures and positive reports from the global markets.

According to observers, prices firmed up on fresh buying and short covering as traders turned active led by the overall market mood. The trend was partially mixed.

Sheet rubber firmed up to Rs 163 (161) a kg, according to traders.

The grade increased to Rs 162 (160) a kg at Kottayam and Kochi, as reported by the Rubber Board.

In futures, May contracts recovered to Rs 162 (160.47), June to Rs 161.40 (159.98), July to Rs 159.49 (158.04), August to Rs 158.30 (156.21) and September to Rs 158 (160.56) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) finished firm at Rs 159.61 (157.03) a kg at Bangkok. The May futures improved to ¥251.3 (Rs 138.74) from ¥247 during the day session and then to ¥256.2 (Rs 141.43) in the night session on the Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4: 163 (161); RSS-5: 159 (156); Ungraded: 154 (152); ISNR 20: 152.50 (150) and Latex 60 per cent: 102 (102).

Source: Business Line

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