Agri Business

Spot rubber closes unchanged

Aravindan | Updated on December 26, 2019 Published on December 26, 2019

File photo   -  The Hindu

Spot rubber closed unchanged on Thursday. RSS 4 was quoted steady at Rs.131.00 a kg by traders and the Rubber Board. The same finished flat at Rs.127.00 a kg according to dealers. The trend continued to remain mixed as ISNR 20 and Latex lost further amidst scattered transactions.  

In futures, the January contracts slid to Rs. 133.81 (134.12) and February to Rs. 135.79 (135.89) per kg on the Indian Commodity Exchange (ICEX).

"Rubber Board has revised the projection for production for the year 2019-20 to 730,000 tonnes, down 20000 tonnes from the earlier target. The new consumption figure for the same period is 1140,000 tonnes against 1270,000 tonnes earlier. Technically Rubber is expected to get an immediate support at 13340. The next resistance is likely to be seen at 13420 and a move above the same could see prices testing 13470 level", said Ajay Kedia, Director, Kedia Advisory.

RSS 3 (spot) slid to Rs. 113.79 (113.93) per kg at Bangkok. The January futures firmed up to Rs. 113.80 (113.65) while the February futures weakened  to Rs. 115.03 (116.46) and March to Rs. 118.22 (119.65) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4:   131.00 (131.00 )

RSS-5:   126.50 (126.50 )

ISNR 20: 113.50 (114.00)

Latex

(60 per cent

drc):         85.50 (86.00)

Published on December 26, 2019
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