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Friday, January 21, 2022

India: Spot rubber firms up


The domestic rubber prices continued to explore further highs on Monday.

In spot, the market firmed up mainly on supply concerns amidst a firm closing on NMCE. The sentiments were further catalysed by the expectations of an improvement in demand in the cash market. Sheet rubber improved to Rs 181.50 (Rs 180), according to traders. The grade increased to Rs 181 (Rs 179), as reported by the Rubber Board. The trend was partially mixed.

The July futures flared up to Rs 187.70 (Rs 182.25), August to Rs 183.46 (Rs 177.36), September to Rs 177.58 (Rs 172.09), October to Rs 172.56 (Rs 169.68), November to Rs 171.44 (Rs 164.85) and December to Rs 171.50 (Rs 170.99) for RSS 4 on the National Multi Commodity Exchange. RSS 3 (spot) declined to Rs 163.74 (Rs 168.28) at Bangkok. The July futures closed at ¥236.9 (Rs 141.26) on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg : RSS-4: 181.50 (180); RSS-5: 175 (174); Ungraded: 165 (164); ISNR 20: 164.50 (164) and Latex 60%: 132.50 (132.50).

Source: Business Line

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