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Monday, January 24, 2022

India: Rally continues in spot rubber


 The rubber market made further gains on Friday.

Supply concerns and the absence of genuine sellers kept the buyers on their toes and the prices continued to regain the lost levels on fresh buying and short covering.

Meanwhile, the Tokyo rubber futures rose for a second strait session ridden by a weaker yen and higher share prices.

In spot, sheet rubber firmed up to Rs 178.50 (Rs 177) a kg, according to traders. The grade improved to Rs 179 (Rs 177) both at Kottayam and Kochi as quoted by the Rubber Board.

July futures increased to Rs 182.86 (Rs 182.55), August to Rs 177.65 (Rs 176.78), September to Rs 172.50 (Rs 171.68) and October to Rs 171.50 (Rs 168.22) on the National Multi Commodity Exchange.

RSS 3 (spot) closed firm at Rs 168.28 (Rs 165.01) at Bangkok. July futures improved to ¥232.3 (Rs 139.38) from ¥226 on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg : RSS-4: 178.50 (177); RSS-5: 173 (172); Ungraded: 163 (162); ISNR 20: 164 (163) and Latex 60 per cent: 132.50 (130).

Source: Business Line

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