Agri Business

Short-covering saves the day for rubber

Aravindan Kottayam | Updated on March 26, 2020 Published on March 26, 2020

Spot rubber prices were not available on Thursday following the 21-day nation-wide lockdown to prevent the further spread of Covid 19.

In futures, the April contracts improved to ₹118.35 (115.69) and May to ₹119.77 (116.59) per kg on the Indian Commodity Exchange (ICEX). The near month April contracts were up by 2.30 per cent with a volume of 284 lots and total traded value of ₹331.64 lakh.

According to analysts, despite concerns over the coronavirus scare, the market recovered partially on bargain-hunting coupled with short-covering at lower levels.

RSS-3 (spot) inched up to ₹106.15 (106.13) a kg at Bangkok. In futures, the April contracts weakened to ₹98.09 (99.67), May to ₹99.12 (99.94) and June to ₹100.83 (101.93) on the Tokyo Commodity Exchange.

Published on March 26, 2020
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