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Spot rubber ended the session in green on Tuesday. RSS 4 improved to Rs.132.00 (131.00) per kg according to traders and the Rubber Board. T
he grade firmed up to Rs.128.00 (127.00) per kg as quoted by the Dealers. The market opened steady but regained strength on enquiries from the tyre sector though they preferred to keep a very low profile. In futures, the January contracts improved to Rs. 136.23 (135.71) and February to Rs. 137.99 (137.53) while the March contracts slid to Rs139.82 (139.85) per kg on the Indian Commodity Exchange (ICEX). "ICEX Rubber closed higher at 13623.00, up by 0.38 per cent today .
We continue to maintain a bullish outlook on prices driven by lower imports and strong demand from the consuming sectors. Technically, rubber is expected to test 13670.00 and if it manages to close above this immediate resistance, rally further to 13750.00 -13800.00 levels in the days ahead", said Mr. Akshay Agarwal, MD, Acumen Capital.
RSS 3 (spot) firmed up to Rs.115.82 (115.05) per kg at Bangkok. The January futures declined to Rs.116.64 (117.39), February to Rs.119.42 (120.25) and March to Rs.125.25 (126.30) per kg on the Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (Rs/kg) were:
RSS-4: 132.00 (131.00 )
RSS-5: 126.50 (126.00)
ISNR 20: 113.00 (112.00)
Latex
(60 per cent drc): 85.00 (84.50)
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