Comments
Spot rubber ended in red on Thursday. The commodity opened steady but lost the initial strength later on buyer resistance following an overall weakness in domestic futures and overseas trendsetters.
According to observers, the market is likely experience a short-term correction as we are almost at the fag end of the current financial year.
RSS-4 weakened to ₹170.50 (171) a kg, according to traders and the Rubber Board. The grade slid to ₹165.50 (166) as per dealers.
In futures, the March delivery surrendered to ₹168.15 (171.99) a kg from Wednesday’s settlement price on the Multi Commodity Exchange (MCX).
RSS-3 (spot) dropped to ₹171.68 (172) per kg at Bangkok. SMR 20 improved to ₹133.91 (131.20), while Latex declined to ₹123.59 (124.02) per kg at Kuala Lumpur.
The most active natural rubber contract for May delivery was up 15 Yuan (₹167.32) from previous day’s settlement price to close at 15,175 Yuan (₹169,300.63) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS 4:170.50 (171); RSS 5: 167.50 (168); ISNR20: 151 (151) and Latex (60% drc): 130 (130).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.