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Friday, May 20, 2022

India: Spot rubber rules flat with futures

KOTTAYAM, MAY 2:

Spot rubber was mixed on Thursday. The market remained almost neutral following a similar trend in the domestic futures market. The absence of follow up buying and the discouraging reports from the global trendsetters kept the commodity under pressure during the day.

Meanwhile, ungraded rubber lost marginally on low demand while ISNR 20 extended gains on fresh enquiries.

Sheet rubber finished flat at Rs 163.00 a kg, according to traders. The grade improved to Rs 162.50 (Rs 162.00) both at Kottayam and Kochi as reported by the Rubber Board.

In futures, the May contracts inched up to Rs 162.30 (Rs 162.24), June to Rs 161.70 (Rs 161.34), July to Rs 159.99 (Rs 159.24) and August to Rs 158.40 (Rs 157.84) while the September futures weakened to Rs 156.06 (Rs 157.66) on the National Multi Commodity Exchange.

RSS 3 (spot) dropped to Rs 158.12 (Rs 159.61) at Bangkok.

The May futures closed the session at ¥249.3 (Rs 137.94) on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg: RSS-4: 163.00 (163.); RSS-5: 159.00 (159.); Ungraded: 153.00 (154.); ISNR 20: 153.00 (152.50) and Latex 60%: 102.00 (102).

Source: Business Line

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