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The ICEX rubber futures continued to remain subdued on Monday. According to observers, a sharp decline in demand and high inventories are keeping NR prices depressed despite short supplies.
“There should be around 2.5 lakh tonnes of rubber with various stakeholders in the country,” an analyst told Business Line . “Meanwhile, most tyre companies are comfortable with their stock piles and they may not join the buyers queue in the immediate future.”
RSS-4 declined at its May futures to ₹114.44 (116.68) and June to ₹112.81 (115.47) per kg on the Indian Commodity Exchange (ICEX). The near month May contracts were down by 1.92 per cent with a volume of 118 lots and total trade value of ₹134.55 lakh.
RSS-3 weakened at its May futures to ₹99.69 (100.38), while its June futures concluded at ₹101.11 (101.11) and July at ₹103.68 (103.60) on the Tokyo Commodity Exchange. RSS-3 (spot) dropped to ₹105.66 (106.29) per kg at Bangkok.
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