Agri Business

Short-covering saves the day for rubber

Aravindan Kottayam | Updated 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

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like