Mixed trend in spot rubber

Spot rubber showed a mixed mood on Friday. RSS 4 was quoted steady at Rs.138.00 a kg by traders and the Rubber Board. The grade finished flat at Rs.134.00 a kg, according to Dealers. The commodity opened firm but lost the initial strength tracking the overall weakness in domestic futures. The trend was partially mixed as RSS 5 and ISNR 20 continued to post moderate gains on enquiries from the non-tyre sector.

“We expect sheet rubber to explore further highs this time as the market is suffering from acute short supplies. The global factors also support a firm trend ahead,” a trader said.

The February futures declined to Rs.137.00 (138.00), March to Rs.138.43 (139.48) and April to Rs.141.58 (142.44) per kg on the Indian Commodity Exchange (ICEX). The near month February contracts were down by 0.72% with a volume of seven lots and total trade value of 9.59 lakh.

RSS 3 (spot) improved to Rs.110.16 (109.49) per kg at Bangkok. The February futures slid to Rs.101.41 (102.33) per kg, while the March futures firmed up to Rs.114.28 (113.36) and April to Rs.118.31 (117.52) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 138.00 (138.00)

RSS-5: 133.00 (132.50)

ISNR 20: 118.50 (118.00)

and Latex (60% drc): 86.00 (86.00)