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Wednesday, August 17, 2022

NMCE Rubber may trade firm around 12300-12500 range

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Mon Tue Wed
RSS 4 125 125 125
RSS 5 118 118 119
Ungraded 114 113 113.5
ISNR 20 108 108 108.5
Latex(60% drc) 79.45 79.4 79.45

Spot Rubber prices up slightly to Rs 113.5/ kg on Wednesday.

Rubber prices at NMCE November contract traded sideways to bearish on profit booking by traders. It is likely to trade firm in next trading session on buying support. Trading range for next trading session is seen between 12300-12500 and either side break out will give clear direction to the prices.

Indian futures scenario

NMCE Futures ( Nov contract, INR)
Day Open High Low Close
Mon 12389 12526 12389 12444
Tue 12480 12512 12210 12450
Wed 12450 12470 12470 12426

Tocom (March contract Yen/ Kilogram)

Day Open High Low Close
Mon 192.9 192.9 191.5 192
Tue 192.5 193.9 192.4 193.1
Wed 194.5 196 193.5 195.9

Source: CommodityOnline

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