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Domestic rubber prices regained strength on Wednesday. In spot, RSS 4 improved to Rs.130.00 (129.50) and Rs.129.50 (129.00) per kg respectively, according to the Rubber Board. The grade firmed up to Rs.125.50 (125.00) per kg as reported by the dealers. The market opened weak but recovered shortly on covering purchases following the news on enquiries from the tyre sector.
An overall improvement in global rubber prices and the absence of quantity sellers in the local trading houses kept the commodity in green during closing hours. Traders expect expect sheet rubber to hit Rs.135.00 a kg shortly But the trend was partially mixed as ISNR 20 and latex remained unchanged and comparatively inactive throughout the day.
In futures, the December contracts flared up to Rs. 132.84 (130.41), January to Rs.133.70 (131.33) and February to Rs.135.22 (131.47) per kg on the Indian Commodity Exchange (ICEX).
RSS 3 (spot) firmed up to Rs.108.93 (107.63) per kg at Bangkok. The November futures improved to Rs.108.75 (106.89), December to Rs.110.93 (109.33) and January to Rs. 113.73 (112.03) per kg on the Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (Rs/kg) were:
RSS-4: 130.00 (129.50)
RSS-5: 127.00 (126.00)
ISNR 20: 118.50 (118.50)
and Latex (60% drc): 91.00 (91.00)
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