Comments
The ICEX rubber futures finished in green on Tuesday. NR prices strengthened as oil prices fell into negative territory for the first time in history on Monday. The sentiments remained under pressure possibly following a weak closing in TOCOM futures.
The COVID-19 pandemic has weighed heavily on the NR prices since lockdown initiated on 24 March. RSS 4 (spot) was quoted at ₹125 per kg on 23 March by traders and the Rubber Board. According to reports, the interstate loads sent before the lockdown were yet to be unloaded at destinations. The government should instruct companies to procure the raw material at the same price once the restrictions are withdrawn, a dealer requested.
May futures inched up to ₹114.08 (114.04) and June to ₹112.91 (112.73) per kg on the Indian Commodity Exchange (ICEX). The near month May contracts were up by 0.04 per cent with a volume of 268 lots and total trade value of 305.35 Lakhs.
RSS 3 (spot) firmed up to ₹105.69 (105.51) per kg at Bangkok. April futures weakened to ₹101.68 (101.94), May at ₹102.61 (103.37) and June at ₹103.76 (104.57) per kg on the Tokyo Commodity Exchange (TOCOM).
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.