Comments
Spot rubber was in a mixed mood with an upward bias on Wednesday. RSS4 closed unchanged at ₹162.00 per kg according to traders and the Rubber Board. The trend was mixed as RSS5 and ISNR20 edged higher on fresh enquiries while Latex continued to remain subdued on buyer resistance. There were no genuine sellers in the local trading houses during the latter half of the session and the market seemed to be suffering from an acute shortage of the raw material. As per reports, the arrivals continued to record a steady decline implying the end of the peak tapping season and a consecutive drop in production. The overall volumes were low. In futures, the most active March contracts were up 0.22 percent from Tuesday’s settlement price to close at Rs.164.50 per kg with a volume of 14 lots on the Multi Commodity Exchange (MCX). RSS3 (spot) firmed up to ₹168.27 (167.97) per kg at Bangkok. SMR20 improved to ₹138.34 (136.26) and Latex to ₹130.24 (129.57) per kg at Kualalumpur. The natural rubber contract for the May 2022 delivery was down 0.64 percent from previous day’s settlement price to close at 14.02 Yuan (₹165.48) per kg with a volume of 133,168 lots in daytime trading on Shanghai Futures Exchange (ShFE). Spot rubber rates (Rs/kg) were: RSS4: ₹162.00 (₹162.00), RSS5: ₹161.00 (₹160.00), ISNR20: ₹157.00 (₹156.50) and Latex (60% drc): ₹122.50 (₹123.00)
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.