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Tuesday, January 18, 2022

India: Rubber skids below Rs 150/kg


Spot rubber retreated further on Thursday. According to sources, the market fell as traders lost confidence since the Kerala Government has not yet begun the rubber procurement to support prices. The absence of follow up buying and the sharp declines in the domestic and international futures kept the sentiments under pressure during the day.

Sheet rubber dropped to Rs149 (Rs152) a kg, according to traders. The grade weakened to Rs150 (Rs152.50) and Rs147 (Rs159.50) respectively, as quoted by the Rubber Board and dealers.

March futures declined to Rs147.67 (Rs152.91), April to Rs152.40 (Rs157.10), May to Rs155.15 (Rs159.86), June to Rs157.10 (Rs161.67) and July to Rs158.77 (Rs162) on the National Multi Commodity Exchange.

RSS 3 (spot) dropped to Rs137.36 (Rs139.53) at Bangkok. The February futures closed at ¥217 (Rs132.49) on the Tokyo Commodity Exchange. Spot rubber rates (Rs/kg) were : RSS-4: 149(152); RSS-5: 148 (150); Ungraded: 146 (148); ISNR 20: 149 (150.50) and Latex 60%: 121 (122).

 The Hindu

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