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Wednesday, July 6, 2022

India: Rubber skids on bearish cues


Spot rubber slipped further on Tuesday. RSS 4 declined to Rs 122 (123) a kg, according to traders. The grade was quoted steady at Rs 122 and Rs 119 respectively by the Rubber Board and dealers.

The market opened weak as sentiments remained under pressure owing to the widening gap between the domestic and international prices. The trend was mixed and the volume low.

October futures edged up to Rs 121.50 (121.19), November to Rs 119.81 (119.70), December to Rs 119.70 (119.59) and January to Rs 120 (119.76) while the February futures dropped to Rs 120 (121.25) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) closed at Rs 95.87 (95.77) a kg at Bangkok. The October futures firmed up to ¥171.1 (Rs 96.04) from ¥170.6 a kg on the Tokyo Commodity Exchange.

Spot rubber rates (Rs /kg): RSS-4: 122 (123); RSS-5: 115 (115); Ungraded: 103 (104); ISNR 20: 104 (104) and Latex 60%: 86.50 (87).

 – The Hindu

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