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Spot rubber ends unchanged

November 08, 2019

 

Spot rubber closed unchanged on Friday. RSS 4 finished flat at ₹126.50 per kg according to traders. The grade improved to ₹126.00 (125.50) and ₹122.00 (121.50) per kg respectively according to the Rubber Board and Dealers. The trend was partially mixed as RSS 5 firmed up marginally on enquiries from the non-tyre sector. The overall volumes were not impressive.

 

A positive change in weather as rains subsided is likely to initiate tapping in most of the plantation areas. The market is slowly moving in to the peak production season and a consecutive improvement in arrivals may put further pressure on the prices in the months ahead. On the other hand, decline in domestic imports and global rubber production are expected to support prices during the season.

 

The November futures firmed up to ₹128.10 (127.32) and December to ₹129.09 (128.42) while the January futures slid to ₹130.28 (130.35) per kg on the Indian Commodity Exchange (ICEX).

 

 

RSS 3 (spot) improved to ₹106.42 (106.02) per kg at Bangkok. The November futures dropped to ₹103.52 (103.59), December to ₹106.06 (106.22) and January to ₹108.47 (109.07) per kg on the Tokyo Commodity Exchange (TOCOM).

 

Spot rubber rates (Rs/kg) were: RSS-4: 126.50 (126.50) ; RSS-5: 124.00 (123.50) ; ISNR 20: 115.00 (115.00) ; and Latex (60% drc): 92.50 (92.50)

 

Source:https://www.thehindubusinessline.com/

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