Spot rubber ends neutral

Aravindan Kottayam | Updated on December 27, 2019

Spot rubber finished neutral on Friday. RSS 4 continued to rule unchanged at Rs 131.00 a kg according to traders and the Rubber Board. The same was quoted steady at Rs 127.00 a kg by Dealers. The trend was partially mixed as Latex lost further on dull demand. The overall volumes were meager.

The January futures weakened to Rs 133.70 (133.81), February to Rs 135.46 (135.79) and March to Rs 137.14 (137.75) per kg on the Indian Commodity Exchange (ICEX).

"The lack of momentum had been forcing prices to consolidate into a broader range of 13300.00-13500.00 during the past few trading sessions. We maintain a neutral-bearish bias on rubber and advise short selling below the support at 13300.00. On the upside, a breakout above the immediate resistance at 13500.00 could take prices to 13700.00 or even higher in the short term", said Mr. Akshay Agarwal, MD, Acumen Capital

RSS 3 (spot) declined to Rs 112.96 (113.79) per kg at Bangkok. The January futures improved to Rs 114.66 (113.80), February to Rs 115.89 (115.03) and March to Rs 119.02 (118.22) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 131.00 (131.00 )

RSS-5: 126.50 (126.50 )

ISNR 20: 113.50 (113.50) and Latex (60% drc): 85.00 (85.50)

Published on December 27, 2019

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