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Saturday, October 23, 2021

India: Rubber firms up on supply concerns


Physical rubber prices finished firm on Friday. The market improved mainly on supply concerns despite a weak closing in the domestic and international trendsetters. According to market circles, it will take another couple of weeks for any visible improvement in arrivals. The trend was partially mixed as latex lost ground on extremely low demand.

Sheet rubber improved to Rs 186 (185) a kg, according to traders. The grade closed firm at Rs 185.50 (185) at Kottayam and Kochi, as reported by the Rubber Board.

In futures, September contracts weakened to Rs 183.75 (184.48), October to Rs 182.75 (183.87), November to Rs 183.45 (183.80) and December to Rs 183.70 (183.99) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) dropped to Rs 178.62 (180) a kg in Bangkok. September futures for the grade declined to ¥ 256.2 (Rs 173.31) from ¥ 258.8 a kg during the day session and then to ¥ 254.5 (Rs 172.16) a kg in the night session on the Tokyo Commodity Exchange (TOCOM).

Spot rubber prices (Rs/kg) were: RSS-4: 186 (185); RSS-5: 182.50 (181.50); Ungraded: 176 (175); ISNR 20: 167 (166) and Latex 60%: 147 (149).

Source: The Hindu

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