Spot rubber prices were not available owing to the demise of N. Baby
Spot rubber prices were not available owing to the demise of N. Baby, one of the Directors of Indian Rubber Dealers Federation.
The dealers’ shops remained closed following a hartal announced by the Federation.
Meanwhile, sheet rubber was quoted steady at Rs 162 a kg at Kottayam and Kochi according to the Rubber Board.
The key TOCOM rubber futures dipped to a three-month low on early trades extending the losses into a third straight session following the news that the monetary policy in China had shifted to neutral. The market regained the initial losses during late trades on fresh buying and short covering.
In futures, the March series improved to Rs 161 (Rs 160.13), April to Rs 164.04 (Rs 163.56), May to Rs 167.50 (Rs 166.83), and June to Rs 169.75 (Rs 168.59) a kg, while the July series slipped to Rs 170.25 (Rs 171.94) and August to Rs 174 (Rs 174.35) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) declined to Rs 158.14 (Rs 162.39) a kg at Bangkok. The March futures were at ¥267.7 (Rs 150.88) a kg on the Tokyo Commodity Exchange.