India Rubber: Settles higher on ICEX on TOCOM cues, unch in spot

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By Rahul Dhuri

MUMBAI – contracts on the Indian Commodity Exchange closed higher today tracking in the rubber contracts on the Tokyo Commodity Exchange, traders said.

The most active March contract on the domestic bourse ended at 13,330 rupees per 100 kg, up 0.3%.

On TOCOM, rubber rose over 1% in early trade today due to short covering after a sharp fall in prices recently. Gains in the benchmark contract on also contributed to the upside, said analysts.

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However, the contract ended lower as a rise in coronavirus cases outside China raised concerns over demand for the commodity. The most active August natural rubber contract on the Japanese bourse ended 0.3% lower at 173.5 yen (about 117.7 rupees) per kg.

Price of the -3 variety in Thailand rose $2.04 to $160.90 per 100 kg, Rubber Board data showed. In Malaysia, price of the SMR-20 variety rose $2.30 to $133.00 per 100 kg.

Back home, natural were largely unchanged in Kerala’s key markets as tepid demand from stockists negated gains due to a persistent supply crunch, said Raju Varghese, the owner of Polachirayil Traders in .

In Kochi and Kottayam, the widely-traded RSS-4 variety was unchanged at 134-135 rupees per kg, traders said. Data from the Rubber Board showed that price of the commodity was at 134.50 rupees per kg in Kottayam. In Kochi, it was at 134 rupees per kg, unchanged in both the markets.
The following table shows today’s closing prices of rubber, in rupees per kg, as detailed by the Rubber Board, and the change in prices, in rupees, compared with the previous close:

KOTTAYAM KOCHI
GRADE PRICE CHANGE PRICE CHANGE
RSS-4 134.50 Unch 134.00 Unch
RSS-5 128.00 (-)0.50 128.00 (-)0.50
ISNR-20 118.00 Unch NA      NA
Latex 84.55 Unch NA      NA

End

US$1 = 73.29 rupees

Edited by Aditya Sakorkar

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