Agri Business

Spot rubber closes unchanged

Our Correspondent Kottayam | Updated on November 21, 2019

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).

Published on November 21, 2019

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