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Monday, January 24, 2022

India: Spot rubber prices firm


Physical rubber prices were steady on Friday.

According to observers, the market remained neutral despite a weak closing in domestic futures on supply fears.

“We might witness further decline in arrivals once south west monsoon sets in”, an analyst said.

Sheet rubber finished unchanged at Rs 169.00 a kg both at Kottayam and Kochi, according to traders and the Rubber Board.

Volumes were dull.

In futures, June contracts weakened to Rs 166.77 (Rs 167.28); July to Rs 164.60 (Rs 166.30); August to Rs 162.88 (Rs 164.55); September to Rs 161.50 (Rs 162.82) and October to Rs 160.03 (Rs 162.00) for RSS 4 on the National Multi Commodity Exchange .

RSS 3 (spot) improved to Rs 171.26 (Rs 170.96) at Bangkok.

The June futures closed at ¥246.5 (Rs 138.57) on the Tokyo Commodity Exchange.

Spot rubber rates at Rs/kg were: RSS-4: 169.00 (169.00); RSS-5: 165.00 (165.00); Ungraded: 157.00 (157.00); ISNR 20: 157.00 (157.00) and Latex 60%: 108.00 (108.00).

Source: Business Line

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