Spot rubber ends steady

Aravindan Kottayam | Updated on December 03, 2019 Published on December 03, 2019

Spot rubber ended on a steady note on Tuesday. RSS 4 continued to rule unchanged at ₹130.00 a kg according to traders. The grade finished flat at ₹126.50 and ₹130.50 per kg respectively according to dealers and the Rubber Board. The sentiments remained neutral amidst extremely dull volumes as there were no quantity buyers or sellers in the local trading houses during the day.

In futures, the December contracts weakened to ₹132.76 (133.07), January to ₹133.95 (134.35) and February to ₹136.33 (136.97) per kg on the Indian Commodity Exchange (ICEX). .

“The ICEX Rubber for December delivery closed at ₹133.07 per kg on Monday and at ₹132.76 down 0.23 per cent today.” said Mr. Akshay Agarwal, MD, Acumen Capital Ltd. “We will continue to maintain a positive bias on Rubber prices. On the upside, resistance is seen at ₹133.00. After this, prices are likely to test ₹134.00 -135.00 levels whereas support is seen at ₹132.00 on the downside".

RSS 3 (spot) slid to ₹110.63 (110.70) per kg at Bangkok. The December futures improved to ₹111.27 (₹109.21), January to ₹110.75 (108.22) and February to ₹112.80 (111.49) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: ₹130.00 (₹130.00)

RSS-5: ₹127.50 (₹127.50)

ISNR 20: ₹119.50 (₹119.50)

and Latex (60% drc): ₹89.50 (₹89.50)

Published on December 03, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.