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Thursday, October 21, 2021

India: Rubber skids on buyer resistance

Spot rubber declined further on buyer resistance despite a firm closing in domestic futures. RSS 4 slid to ₹121 (₹122) a kg, according to traders. The grade quoted weak at ₹122 (₹123) and ₹119 (₹120) respectively by the Rubber Board and dealers. September futures improved to ₹125.29 (₹122.99), October to ₹115.47 (₹113.30), November to ₹113.80 (₹112.35), December to ₹113 (₹112.10), January to ₹113.50 (₹112.50) and February to ₹115.25 (₹113.50) on the National Multi Commodity Exchange. RSS 3 (spot) firmed up to ₹106.79 (₹105.53) at Bangkok. September futures improved to ¥168 (₹109.80) on the Tokyo Commodity Exchange. Spot rubber rates (₹/kg): RSS-4: 121 (122); RSS-5: 114 (115); Ungraded: 99 (99); ISNR 20: 97 (98) and Latex (60% drc): 69 (70).

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