Rubber firms up on fresh demand

Aravindan Kottayam | Updated on November 06, 2019

Spot rubber improved on Wednesday. RSS 4 firmed up to Rs.126.00 (125.00) per kg, according to traders. But it closed unchanged at Rs.125.00 a kg. . The grade finished flat at Rs.121.00 per kg.

The commodity regained strength on fresh enquiries from the tyre sector, traders said. Meanwhile RSS 5 and Ungraded rubber continued to rule firm following enquiries from the general rubber sector, but Latex remained flat and almost inactive during late trading hours..

News about a fungal disease which hit the key plantation areas in Thailand, Indonesia and Malaysia and a fall in domestic imports kept the buyers under pressure during the day. There were no big quantity sellers in the local trading houses even at the quoted levels. The volumes were low.

In futures, the November contracts weakened to Rs.127.00 (128.75), the December contracts slipped to Rs. 128.54 (129.71) and January to Rs.130.35 (130.78) per kg on the Indian Commodity Exchange (ICEX).

RSS 3 (spot) firmed up to Rs.105.89 (105.27) per kg at Bangkok. The November futures improved to Rs.102.37 (101.28), December to Rs.105.56 (104.27) and January to Rs. 108.16 (107.52) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 126.00 (125.00)

RSS-5: 123.50 (123.00)

ISNR 20: 115.00 (114.50)

and Latex (60% drc): 93.00 (93.00)

Published on November 06, 2019

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