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India Rubber: Prices fall in Kerala on weak sentiment, up on TOCOM

Informist, Friday, Jan 28, 2022

 

By Rahul Dhuri

 

MUMBAI – Prices of natural rubber in the key markets of Kerala fell today, tracking weakness in global markets. Sluggish demand from domestic tyre makers and bulk buyers also weighed on prices, traders said.

 

* However, concerns over supply in the domestic market cushioned the fall in rubber prices. Supply may be hit by a seasonal shortage as the lean production season has commenced, said Joy Alencherry, owner of Kottayam-based Maria Rubber Links.

 

* Futures contracts of natural rubber on the Tokyo Commodity Exchange fell in early Asian trade as investors moved away from riskier assets such as rubber due to concerns over geopolitical tensions in Eastern Europe. 

 

* However, rubber contracts ended marginally higher, tracking gains in crude oil prices. Natural rubber prices take cues from crude oil, as the latter is used to manufacture synthetic rubber.   

 

* Crude oil prices on the New York Mercantile Exchange rose due to concerns over supply in the market, analysts said.

 

* Following are the highlights of today’s trade:

–Today, the widely traded RSS-4 variety was sold at 161-162 rupees per kg, down 1 rupee from the previous day of trade.

–The July contract on the TOCOM ended at 239.8 yen (155.86 rupees), up 0.4 yen from the previous close.

 

End 

 

Edited by Tanima Banerjee

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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Source: Cogencis

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