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Friday, June 2, 2023

India: Lack of buyers saps spot rubber


Spot rubber declined on Monday.

There were no genuine and quantity buyers in the market and prices fell further despite a better closing in domestic futures on the National Multi Commodity Exchange.

The trend was mixed as ungraded rubber and latex finished flat amidst scattered transactions.

Volumes were low.

Sheet rubber weakened to Rs 151 (Rs 152) a kg, according to traders.

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

January futures improved to Rs 152.65 (Rs 151.64), February to Rs 155.20 (Rs 153.93), March to Rs 157.90 (Rs 156.60), April to Rs 162 (Rs 160.18) and May to Rs 164.88 (Rs 163).

While the June futures remained inactive on NMCE.

RSS 3 (spot) slipped to Rs 147.26 (Rs 147.31) at Bangkok.

The Tokyo Commodity Exchange (TOCOM) remained closed owing to the ‘Coming of Age Day’.

Spot rubber rates Rs/kg were: RSS-4: 151 (152); RSS-5: 143 (144); Ungraded: 140 (140); ISNR 20: 150 (153) and Latex 60%: 132 (132).

The Hindu

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