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Monday, June 5, 2023

India: Spot rubber firm on supply concerns


Physical rubber prices were firm on Tuesday. Prices improved mainly on supply concerns though the reports from the futures markets were not so impressive. “There is a visible decline in arrivals as we are passing through the initial days of the South-West monsoon,” sources said.

Meanwhile, the key Tokyo rubber futures improved on bargain hunting at lower levels but a strong yen limited the gains during late trades.

In spot, sheet rubber increased to Rs 170 (Rs 169) a kg at Kottayam and Kochi, according to traders and the Rubber Board. The trend was partially mixed and volume low.

June futures inched up to Rs 169.87 (Rs 169.45) while the July futures weakened to Rs 167.07 (Rs 167.39), August to Rs 164.30 (Rs 164.63), September to Rs 161.71 (Rs 162.25), October to Rs 161.71 (Rs 163.57) and November to Rs 159.28 (Rs 164) on the National Multi Commodity Exchange. June futures closed to ¥ 250.0 (Rs 141.08) on Tokyo Commodity Exchange

Spot rubber rates Rs/kg were: RSS-4: 170 (169); RSS-5: 166 (165); Ungraded: 156.50 (156); ISNR 20: 157 (156) and Latex 60%: 108 (108).

Source: Business Line

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