Agri Business

Spot rubber fall weak

Our Bureau | Updated on February 17, 2020 Published on February 17, 2020

Rubber Market 17 February 2020

 

Spot rubber was weak on Monday. RSS 4 slid to ₹137.00 (137.50) a kg according to traders and the Rubber Board. The grade dropped to ₹133.00 (133.50) a kg as quoted by the Dealers. Meanwhile ISNR 20 and latex continued to remain neutral amidst scattered transactions. The volumes were dull.

The March futures declined to ₹137.83 (138.43) and April to ₹141.07 (141.58) per kg while the May futures improved to ₹143.98 (140.22) per kg on the Indian Commodity Exchange (ICEX).

The near month March contracts were down by 0.43 per cent with a volume of 586 lots and total trade value of 807.62 lakhs.

"The overall bias continues to remain bearish for rubber. It may get support at 13,780.00 breaking which, prices are expected to decline to 13,690.0-13,600.00 levels. On the upside, 13,870.00 should act a strong resistance" Akshay Agarwal, MD, Acumen Capital said.

RSS 3 (spot) firmed up to ₹111.12 (110.16) per kg at Bangkok. The February futures improved to ₹105.01 (101.41), March to ₹116.05 (114.28) and April to ₹118.85 (118.31) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4:137.00 (137.50)
RSS-5: 132.00 (133.00)
ISNR 20:  118.50 (118.50)
Latex (60% drc)86.00 (86.00)

              

Published on February 17, 2020
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