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Saturday, August 13, 2022

India: Spot rubber prices rule weak


 Physical rubber prices ruled weak on Thursday. Prices remained under pressure as growers joined sellers on fears that the market might seek further lows ahead. Overall volumes continued to be dull, while the trend was partially mixed as ISNR 20 finished flat in a rather inactive trading session.

Sheet rubber declined to Rs 156 (157) a kg, according to traders. The grade dropped to Rs 156.50 (157) a kg at Kottayam and Kochi, as reported by the Rubber Board. It was quoted at Rs 153.50 (154 ) a kg by dealers.

In futures, the November contracts improved to Rs 156.50 (155.55), December to Rs 157 (156.65) and January Rs 158.90 (158.43) per kg, while the February and March contracts were inactive on the National Multi Commodity Exchange. RSS 3 (spot) inched up to Rs 153.92 (153.58) a kg at Bangkok. The November futures increased to ¥ 247.1 (Rs 156.67) from ¥ 244.1 a kg during the day session but then remained inactive during the night session on Tokyo Commodity Exchange.

Physical rubber rates Rs/kg were: RSS-4: 156(157); RSS-5: 149(150); Ungraded: 145(146); ISNR 20: 149(149) and latex 60 per cent: 110(110).

Source: The Hindu

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