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Tuesday, May 24, 2022

NMCE Rubber ends positive, trend likely to continue: COIL

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Mon Tue Wed Thu Fri
RSS 4 92 0 93 94 94.5
RSS 5 89 0 90 91 92
Ungraded 84 85 85 86 86
ISNR 20 85 86 87 87 87.5
Latex(60% drc) 77.15 77.15 76.6 76.6 76.1

Spot Rubber prices steady at Rs 86/kg on Friday.

NMCE Rubber declined 90.0 or 0.92% to close at 9712 on Friday. The overall bias continues to remain positive and we expect prices to test 10000 going ahead. On the downside, a break below 9650 will turn the bias to negative and see prices test previous lows.

Indian futures scenario

NMCE Futures (Mar contract, INR)
Day Open High Low Close
Mon 9300 9500 9300 9490
Tue 9656 9690 9560 9575
Wed 9656 9700 9570 9700
Thu 9656 9810 9635 9806
Fri 9780 9890 9690 9712

Tocom (July contract Yen/ Kilogram)

Day Open High Low Close
Mon 154.9 155.9 153.8 154.4
Tue 154.9 155.6 152.8 153.9
Wed 152.4 152.9 151.5 152.3
Thu 152.6 152.6 151.5 152.5
Fri 153.2 153.3 152.8 153.2

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