Commodities

Spot rubber ends firm

Our Correspondent | Updated on November 05, 2019 Published on November 05, 2019

Spot rubber continued to rule unchanged despite a firm closing in domestic futures on Tuesday. RSS 4 finished flat at ₹125.00 per kg according to traders and the Rubber Board. The grade was quoted steady at ₹121.00 per kg by Dealers. Meanwhile latex lost further ground in the absence of buyers and hence, the trend was partially mixed.

Rubber contracts on the Indian Commodity Exchange ended in green following the moderate gains in Tokyo Commodity Exchange. In fact, the TOCOM rubber futures regained strength as the outbreak of a fungal disease in Thailand led to an acute shortage of the raw material in the international scene. The disease in the key-growing areas is expected to damage around 50 per cent of the estimated production during the ongoing season. Thailand is considered as the top producer and exporter of NR, accounting for up to 40 per cent of global supplies.

In domestic futures, the November contracts firmed up to ₹128.75 (127.43), December to ₹129.71 (128.69) and January to ₹130.78(130.20) per kg on the Indian Commodity Exchange (ICEX).

RSS 3 (spot) improved to ₹105.27 (104.81) per kg at Bangkok. The November futures bounced back to ₹101.28 (99.01), December to ₹104.27 (102.20) and January to ₹107.52 (105.00) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were: RSS-4: 125.00 (125.00) ; RSS-5: 123.00 (123.00) ; ISNR 20: 114.50 (114.50) ; and Latex (60% drc): 93.00 (94.00)

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Published on November 05, 2019
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