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Thursday, January 20, 2022

India: Latex extends gains; rules at Rs 130/kg


Spot rubber resumed the upward journey on Thursday.

According to observers, the market started reacting closely to supply concerns as a result of the widespread and heavy rain all over the State.

Sharp gains in the domestic futures catalysed the local sentiments further and traders seemed to be expecting the reentry of major consuming industries to the buyers queue.

Sheet rubber improved to Rs 177 both at Kottayam and Kochi from Rs 176.50 and Rs 176 a kg respectively, according to traders and the Rubber Board.

July futures flared up to Rs 182.80 (Rs 177.64), August to Rs 176.95 (Rs 171.80), September to Rs 171.99 (Rs 167.81) and October to Rs 169 (Rs 164.99) while the November and December futures were inactive on the National Multi Commodity Exchange.

RSS 3 (spot) inched up Rs 165.01 (Rs 164.98) at Bangkok. July futures increased to ¥ 226 (Rs 138.74) from ¥225 on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg : RSS-4: 177 (176.50); RSS-5: 172 (171); Ungraded: 162 (161); ISNR 20: 163 (162.50) and Latex 60 per cent: 130 (127).

Source: Business Line

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