Spot rubber prices were bullish on Thursday. The commodity managed to move in tandem with the global indices and domestic futures mainly on covering purchases at lower levels. “We expect tyre makers to join the us soon after the Onam holidays,” a trader said “Technically, rubber is in a short-term uptrend.”
RSS-4 flared up to ₹134 (131) per kg, according to traders and the Rubber Board. The grade improved to ₹130 (127) per kg, as per dealers. Meanwhile, latex continued to remain unchanged on low demand.
The September futures improved to ₹134.36 (131.64) a kg on the Indian Commodity Exchange (ICEX). The contracts were up by 2.07 per cent with a volume of 7 lots and a total traded value of ₹9.40 lakh.
RSS-3 (spot) improved to ₹139.14 (137.40) per kg at Bangkok. SMR-20 firmed up to ₹101.40 (100.34), while Latex 60% dropped to ₹85.79 (86.01) at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS-4:134 (131); RSS-5: 129 (127); ISNR-20: 108.50 (108) and Latex (60% drc): 76 (76).
Published on August 27, 2020
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.