Commodities

Spot rubber ends steady

Aravindan Kottayam | Updated on November 19, 2019 Published on November 19, 2019

Spot rubber closed unchanged on Tuesday. RSS 4 was quoted steady at Rs.129.50 a kg by traders. The grade finished flat at Rs.129.00 and Rs.125.00 per kg respectively according to the Rubber Board and Dealers. The transactions were in an extremely low key.

Global rubber prices will continue to remain subdued as Thailand seeks to boost its natural rubber exports, sources said. In March, the International Tripartite Rubber Council (ITRC), which comprises Thailand, Indonesia and Malaysia, agreed to reduce rubber exports by about 2.40 lakh tonnes from late in May to September to buoy local prices. The three Southeast Asian neighbours, which produce 70 per cent of the world's natural rubber, ended up slashing exports by 4,41,648 tonnes during the period. But according to reports, Thai Minister of Commerce Jurin Laksanawisit told reporters and rubber growers recently that thec ountry will boost natural rubber exports mainly to increase growers' income.

The December futures firmed up to Rs. 130.41 (129.51), January to Rs.131.33 (131.01) and February to Rs.131.47 (127.02) per kg on the Indian Commodity Exchange (ICEX).

RSS 3 (spot) improved to Rs.107.63 (107.30) per kg at Bangkok. The November futures firmed up to Rs.106.89 (106.84), December to Rs.109.33 (108.89) and January to Rs. 112.03 (111.58) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 129.50 (129.50)

RSS-5: 126.00 (126.00)

ISNR 20: 118.50 (118.50)

and Latex (60% drc): 91.00 (91.00)

Published on November 19, 2019
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