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Monday, January 24, 2022

India: Spot rubber gains on supply woes


Physical rubber prices made all round gains on Wednesday.

The market seemed to be riding on short supplies as a result of the slowdown in tapping due to intensified South-West monsoon rains.

According to sources, there were only very limited stocks with the dealers.

Growers are holding their produce expecting a rebound in prices during the ongoing low production season.

Sheet rubber improved to Rs 175 (Rs 174) a kg both at Kottayam and Kochi, according to traders and the Rubber Board.

June futures dropped to Rs 175.50 (Rs 175.53), July to Rs 172.70 (Rs 172.78), September to Rs 167.30 (Rs 167.34) and October to Rs 164.23 (Rs 164.98) while the August futures firmed up to Rs 169.75 (Rs 169.70) and November to Rs 165 (Rs 162.53) on the National Multi Commodity Exchange.

RSS 3 (spot) increased to Rs 167.39 (Rs 166.01) at Bangkok. June futures weakened to ¥ 236.8 (Rs 141.61) on the Tokyo Commodity Exchange.

Spotr ubber rates Rs/kg :RSS-4: 175 (174); RSS-5: 170 (169); Ungraded: 160 (159); ISNR 20: 161 (160) and Latex 60 per cent: 111 (110.50).

Source: Business Line

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