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Friday, January 28, 2022

India: Spot rubber prices flat; futures firm


Physical rubber prices finished unchanged on Thursday. Another firm closing in domestic futures failed to make any visible impact on the spot market.

“We expect a recovery in prices as the inflow of the raw material had hit the bottom line,” an analyst said.

Intensified monsoon rain has already affected the production and the market might experience an acute shortage of rubber in the coming weeks.

Sheet rubber closed steady at Rs 171 a kg at Kottayam and Kochi, according to traders and the Rubber Board. The transactions were dull.

June futures improved to Rs 173 (Rs 171.23), July to Rs 167.99 (Rs 167.14), August to Rs 165.23 (Rs 164.30), September to Rs 162.60 (Rs 161.89), October to Rs 162.40 (Rs 162.07) and November to Rs 160 (Rs 167.84) on the National Multi Commodity Exchange.

RSS 3 (spot) weakened to Rs 162.95 (Rs 164.55) at Bangkok. June futures closed at to ¥241.2 (Rs 138.53) on Tokyo Commodity Exchange.

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

Source: Business Line

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