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Spot rubber ended in green on Tuesday. RSS 4 improved to ₹123 and ₹122.50 from ₹121 per kg respectively according to traders and the Rubber Board. The grade recovered to ₹118.50 (117) as reported by the dealers. The market opened steady but regained strength tracking the moderate gains is domestic futures and global trendsetters. The trend continued to remain mixed as latex closed unchanged amidst scattered transactions. The overall volumes were low.
Natural rubber prices in the local trading houses are not expected to extend their gains sharply in short term as tyre makers continue to sideline the market, an observer said. This may be since they are comfortable with their huge imports. But their absence in the buyers queue is neutralising the effect of a comparatively better demand from the domestic stockists, he added.
In futures, November contracts bounced back to ₹123.63 (121.92) and December to ₹125.77 (123.18) per kg on the Indian Commodity Exchange (ICEX). RSS 3 (spot) firmed up to ₹104.09 (103.00) per kg at Bangkok.
Spot rubber rates (₹/kg): RSS-4: 123 (121); RSS-5: 119.50 (118.50); ISNR 20: 110 (109) and Latex (60% drc): 98.50 (98.50).
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