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Saturday, May 21, 2022

India: Spot rubber rules firm


Spot rubber prices regained strength on Monday.

On the spot, the prices firmed up following the overall gains in the domestic and international trendsetters.

According to observers, sellers stayed back expecting a moderate recovery in the market.

“We expect more manufacturers to join the buyers queue shortly and hope that the worst is over at least for the time being”, a trader said.

The trend was partially mixed as latex finished flat amidst dull demand.

Sheet rubber improved to Rs 153.50 (Rs 152.50) a kg, according to traders.

The grade increased to Rs 153 (Rs 152) and Rs 150 (Rs 149) respectively as quoted by the Rubber Board and dealers.

The January futures improved to Rs 158.75 (Rs 155.99), February to Rs 161.38 (Rs 158.44) and March to Rs 163.75 (Rs 161.60) while the June futures concluded the debut trading session at Rs 173.49 and the April futures remained inactive on National Multi Commodity Exchange (NMCE).

RSS 3 (spot) closed at Rs 162.44 (Rs 160.56) at Bangkok.

The December futures closed at ¥282 (Rs 169.38) on the Tokyo Commodity Exchange.

Spot rubber rates Rs/kg: RSS-4: 153.50 (152.50); RSS-5: 145 (144); Ungraded: 142 (141); ISNR 20: 145.50 (144.50) and Latex 60%: 109 (109).

Source: The Hindu

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