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Monday, September 25, 2023

India: Spot rubber improves further


Spot rubber improved further on Wednesday.

The market gained strength following a firm closing in June futures on the National Multi Commodity Exchange (NMCE).

“We are experiencing an acute shortage of sheets as the arrivals are extremely low,” dealers said.

The trend was mixed and volumes continued to be low.

Sheet rubber improved to Rs 171 (Rs 170) a kg both at Kottayam and Kochi, according to traders and the Rubber Board.

June futures closed at Rs 171.15 (Rs 170.03), July at Rs 166.91 (Rs 167.21), August at Rs 164.20 (Rs 164.40), September at Rs 161.52 (Rs 161.75), October at Rs 163.40 (Rs 162.04) and November at Rs 157.06 (Rs 161) on the NMCE.

RSS 3 (spot) weakened to Rs 164.55 (Rs 164.75) at Bangkok.

June futures closed at ¥246.5 (Rs 140.44) on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg were: RSS-4: 171 (170); RSS-5: 166 (166); Ungraded: 158 (156.50); ISNR 20: 157.50 (157.00) and Latex 60%: 108 (108).

Source: Business Line

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