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Wednesday, August 17, 2022

NMCE Rubber may decline to 13000-12750 this week: COIL

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Fri Mon Tue
RSS 4 139 138 137
RSS 5 137 135.5 135
Ungraded 124 118 115
ISNR 20 132 130 127
Latex(60% drc) 114.1 113.05 110.95

Spot Rubber prices declined to Rs 115/kg on Monday.

NMCE Rubber June ended at 13440 on Tuesday, down 248 or 1.81%. The trend is currently negative and we expect prices to decline to 13000-12750 this week. On the upside, a break above 14000 should see the current trend reverse and prices move higher in the short term.

Indian futures scenario

NMCE Futures (May contract, INR)
Day Open High Low Close
Mon 13688 13688 13430 13450
Tue 13350 13461 13199 13249

Tocom (Oct contract Yen/ Kilogram)

Day Open High Low Close
Mon 187 188.4 186.8 187.7
Tue 187 188.4 186.8 187.7

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