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Spot rubber closed unchanged on Wednesday. RSS 4 was quoted steady at Rs 132 a kg by traders and the Rubber Board. The grade finished flat at Rs 128 a kg, according to dealers. Sentiment remained neutral as domestic and global trendsetters showed signs of weakness, possibly on profit-booking at higher levels.
Traders expect an improvement in arrivals since the weather has turned favourable for tapping. “Though this is the peak production season, we may experience a decline in production due to fundamental reasons,” an observer said.
In futures, the December contract slid to Rs 135 (135.02), January to Rs 136.35 (136.65) and February to Rs 138.37 (138.87) per kg on the Indian Commodity Exchange (ICEX).
RSS 3 (spot) weakened to Rs 113.62 (113.73) per kg at Bangkok. The December futures dropped to Rs 115.13 (115.40), January to Rs 114.41 (115.01) and February to Rs 117.15 (117.69) per kg on the Tokyo Commodity Exchange (TOCOM).
The spot rubber rates (Rs/kg) were:
RSS-4: 132.00 (132.00)
RSS-5: 128.00 (128.00)
ISNR 20: 118.50 (118.50)
and Latex (60% drc): 91.50 (91.50)
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