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Monday, August 15, 2022

India: Spot rubber prices rule steady


Spot rubber prices ruled steady on Wednesday. The absence of genuine buyers and sellers kept sentiments almost neutral during the day.

Most traders were hesitant to raise their commitments following another weak closing in the domestic futures. The trend was partially mixed as ISNR 20 ended in the red on buyer resistance, while overall volumes continued to be dull.

Sheet rubber quoted unchanged at Rs 152a kg by traders and the Rubber Board. The grade closed flat at Rs 149a kg as reported by the dealers.

January futures weakened to Rs 151(Rs 152.84), February to Rs 153.30 (Rs 154.96), March to Rs 155.55 (Rs 157.74) and April to Rs 159.22 (Rs 162.05) a kg while May and June futures remained inactive on National Multi Commodity Exchange.

RSS 3 (spot) improved to Rs 145.47 (Rs 144.39) a kg at Bangkok.

The January futures firmed up to ¥ 265 (Rs 156.30) from ¥ 262.0 a kg during the day session and then to ¥ 266.7 (Rs 157.32) a kg in the night session on Tokyo Commodity Exchange.

Physical rubber rates (Rs/kg) were: RSS-4: 152(152); RSS-5: 144(144); Ungraded: 141(141); ISNR 20: 148(150); and latex 60 per cent: 132(132).

Source: The Hindu

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