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Monday, January 24, 2022

India: Supply woes lift spot rubber


Spot rubber improved on Wednesday mainly on supply concerns following another firm closing on the National Multi Commodity Exchange.

According to observers, there were certain enquiries from the manufacturing sector on late trading hours though they kept a low profile. The overall volumes continued to be dull.

Sheet rubber improved to Rs 176.50 (Rs 175.50) a kg, according to traders. The grade increased to Rs 176 (Rs 175.50) both at Kottayam and Kochi as reported by the Rubber Board.

July futures firmed up to Rs 177.70 (Rs 174.29), August to Rs 171.90 (Rs 169.46), September to Rs 168.00 (Rs 165.67), October to Rs 165.00 (Rs 163.11) and November to Rs 163.70 (Rs 162.11) while the December contracts dropped to Rs 165.50 (Rs 165.80) on the NMCE.

RSS 3 (spot) closed marginally higher at Rs 164.98 (Rs 164.81) at Bangkok. July futures weakened to ¥225 (Rs 139.50) on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg : RSS-4: 176.50 (175.50); RSS-5: 171 (170.50); Ungraded: 161 (160.50); ISNR 20: 162.50 (162) and Latex 60 per cent: 127 (125).

Source: Business Line

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