Spot rubber closed unchanged despite a firm closing in global trend setters on Thursday. RSS 4 was quoted steady at ₹130 and ₹129.50 per kg respectively by traders and the Rubber Board. The grade finished flat at ₹125.50according to dealers. The market opened firm but lost the initial charm as major consuming industries were not interested to expand their commitments possibly to avoid a sharp rise in prices. Meanwhile, ISNR 20 improved mainly on enquiries from the general rubber goods sector and hence the trend was partially mixed.
‘The market is still in a positive mood and we expect it to regain strength once the tyre makers return to the local trading houses’, an observer said.
In futures,December contracts weakened to ₹131.44 (132.84) and January to ₹132.23 (133.70) while the February contracts inched up to ₹135.75 (135.22) on the Indian Commodity Exchange (ICEX). RSS 3 (spot) improved to ₹110.15 (108.93) per kg at Bangkok. November futures firmed up to ₹111.82 (108.75) and December to ₹111.36 (110.93) while the January futures slid to ₹113.60 (113.73)on the Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (₹/kg): RSS-4: 130 (130); RSS-5: 127 (127); ISNR 20: 119 (118.50) and Latex (60% drc): 91 (91).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.