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Tuesday, January 25, 2022

India: Spot rubber unchanged


Spot rubber finished almost unchanged on Friday.

The absence of follow up buying from the tyre sector and a weak closing in domestic futures kept the commodity under pressure during the day. But it managed to sustain at the prevailing levels on supply concerns.

Meanwhile, ISNR 20 and latex made moderate gains on better demand amidst low supplies.

Sheet rubber closed steady at Rs 175 a kg both at Kottayam and Kochi, according to traders and the Rubber Board. The trend was mixed.

June futures weakened to Rs 175.70 (Rs 176.86), July to Rs 171.81 (Rs 173.39), August to Rs 168.99 (Rs 170.34), September to Rs 166 (Rs 167.23), October to Rs 164 (Rs 164.96) and November to Rs 159.24 (Rs 163.52) on the National Multi Commodity Exchange.

RSS 3 (spot) slid to Rs 162.09 (Rs 162.76) at Bangkok. June futures improved to ¥231.9 (Rs 140.68) on the Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4: 175 (175); RSS-5: 170 (170); Ungraded: 160 (160); ISNR 20: 162 (161); and Latex 60 per cent: 113.50 (111).

Source: Business Line

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