Spot rubber closed unchanged on Monday. The market ended in a stalemate as most traders continued to remain in a holiday mood even after Easter since Kerala Assembly elections will be held in a single phase on April 6.
Another firm closing in domestic futures also failed to make any visible impact in the physical market. “The commodity is expected to remain range-bound with an upward bias this week as major consuming industries are likely to maintain a wait and watch policy during the initial days of the new financial year,” analysts said.
RSS 4 was quoted steady at ₹170.50 per kg by traders and the Rubber Board. The grade finished flat at ₹165.50 as per dealers. The volumes were extremely low in an almost inactive trading session.
In futures, the near month April delivery was up 0.94% from previous day’s settlement price to close at ₹173.25 per kg with a volume of 50 lots on the Multi Commodity Exchange (MCX).
RSS 3 (spot) improved to ₹163.34 (162.92) per kg at Bangkok. SMR 20 firmed up to ₹122.54 (121.03), while Latex slid to ₹117.68 (117.88) at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS 4:170.50 (170.50); RSS 5: 168 (168); ISNR 20: 155.50 (155.50) and Latex (60% drc): 128 (128).
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.