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Monday, January 24, 2022

India: Spot rubber rules flat


Physical rubber prices finished unchanged despite a firm closing in domestic futures on Thursday.

According to sources, the market lost its direction on buyer resistance following the declines in the international trend setters. Major manufacturers, stayed back possibly on import hopes as the gap between the domestic and global rates widened further.

Sheet rubber closed steady at Rs 175 a kg both at Kottayam and Kochi, according to traders and the Rubber Board. The volumes were low.

June futures improved to Rs 177.25 (Rs 175.64), July to Rs 173.20 (Rs 172.65), August to Rs 170.22 (Rs 169.52), and September to Rs 167.80 (Rs 167.38) while the October futures dropped to Rs 63.85 (Rs 165.13) and November to Rs 163.51 (Rs 165.01) on the National Multi Commodity Exchange.

RSS 3 (spot) fell sharply to Rs 162.76 (Rs 167.39) at Bangkok. June futures recovered marginally to ¥ 228.8 (Rs 140.73) on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg : RSS-4: 175 (175); RSS-5: 170 (170); Ungraded: 160 (160); SNR 20: 161 (161) and Latex 60 per cent: 111 (111).

Source: Business Line

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