Informist, Thursday, Oct 21, 2021
By Rahul Dhuri
MUMBAI – Prices of natural rubber rose further today in the key markets of Kerala, tracking an early rise in contracts on the Tokyo Commodity Exchange. Renewed demand from domestic stockists also supported rubber prices, traders said.
* Concerns over supply, due to disruption in tapping led by heavy rains in key growing areas of Kerala, further supported the uptrend in rubber prices, said John Joseph, owner of J.J. Trading based in Ernakulam, Kerala.
* On TOCOM, the March rubber contract erased early gains as investors booked profits after a recent surge in prices, analysts said.
* Prices rose early in the day because of firm demand and gains in crude oil contracts on the New York Mercantile Exchange. Natural rubber takes cues from crude oil as the latter is used to make synthetic rubber.
* Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was quoted at 172-173 rupees per kg, up 1 rupee from Wednesday.
–The March contract on TOCOM ended at 234.8 yen (about 154.10 rupees), down 3.7 yen from the previous close. End
Edited by Vidhi Verma
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Source: Cogencis
