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Spot rubber closes unchanged

November 29, 2019

 

Spot rubber closed unchanged on Friday. RSS 4 finished flat at Rs 130.00 a kg according to traders. The grade continued to remain steady at Rs 126.50 and Rs 130.50 per kg respectively according to Dealers and the Rubber Board. There were no fresh enquiries from the consuming sector and the market managed to sustain at the prevailing levels on supply concerns.

 

A favourable change in weather as rains subsided is expected to accelerate tapping in major plantation areas. Any visible improvement in arrivals may weigh on the domestic sentiments while another strong rally in global indices will extend further support to the prices. Many growers are reluctant to resume tapping even during the peak production season since the prices are running low.

 

The December futures improved to Rs 132.18 (131.91) and January to Rs 133.40 (132.85) while the February futures weakened to Rs 134.88 (135.42) per kg on the Indian Commodity Exchange (ICEX). .

 

RSS 3 (spot) slid to Rs 109.64 (110.95) per kg at Bangkok. The December futures declined to Rs 110.04 (111.64), January to Rs 109.65 (110.95) and February to Rs 112.40 (114.50) per kg on the Tokyo Commodity Exchange (TOCOM).

 

Spot rubber rates (Rs/kg) were:

 

RSS-4: 130.00 (130.00)

 

RSS-5: 127.50 (127.50)

 

ISNR 20: 119.50 (119.50)

 

and Latex (60% drc): 89.50 (89.50)

 

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

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