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Wednesday, October 27, 2021

India: Mixed trend in spot rubber


Spot rubber was mixed on Wednesday. The market activities were extremely low following a strike in Kerala in protest against the hike in prices of petroleum products.

Leading counters, ruled steady despite a firm closing in the domestic futures on the National Multi Commodity Exchange (NMCE).

Sheet rubber closed steady at Rs 186 a kg at Kottayam and Kochi, according to traders and the Rubber Board.

While ISNR 20 improved on comparatively better demand, latex lost further on buyer resistance. Overall, volumes were low.

September futures improved to Rs 188 (Rs 185.96), October to Rs 187.35 (Rs 184.80), November to Rs 188.10 (Rs 185.80) and December to Rs 190.17 (Rs 187.47) on the NMCE.

RSS 3 (spot) bounced back to Rs 180.97 (Rs 176.65) at Bangkok. September futures closed at ¥269.6 (Rs 181.52) on Tokyo Commodity Exchange.

Spot rubber rates Rs/kg were: RSS-4: 186 (186); RSS-5: 182.50 (182.50); Ungraded: 176 (176); ISNR 20: 169 (167) and Latex 60%: 139 (141).

Source: The Hindu

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