Commodities

Spot rubber extends gains

Aravindan Kottayam | Updated on February 11, 2020 Published on February 11, 2020

Spot rubber extended its gains on Tuesday. RSS 4 firmed up further to Rs.137.00 (135.00) per kg according to traders. The grade improved to Rs.132.00 (131.00) and Rs.136.00 (135.00 ) per kg respectively, according to Dealers and the Rubber Board. The commodity resumed the upward journey on supply concerns and there were no sellers in the market even at higher levels.

In futures, the February contracts flared up to Rs. 138.36 (135.38), March to Rs. 140.35 (137.93) and April to Rs. 143.12 (140.92) per kg on the Indian Commodity Exchange (ICEX). The near month February contracts were up by 2.20% with a volume of 7 lots and total trade value of 9.69 lakh.

As per reports, NR futures prices tumbled globally amid growing concerns over sluggish auto sales in many countries due to an economic slowdown. But a sharp decline in NR supplies from Southeast Asia, a major producing region, had triggered a recent spike in prices. The volatility in the natural rubber futures market is likely to continue for the time being amid fears over the spread of the coronavirus outbreak and a supply decline.

RSS 3 (spot) inched up to Rs. 108.27 (108.12) per kg at Bangkok. The Tokyo Commodity Exchange (TOCOM) remained closed on account of 'National Foundation Day'

RSS-4: 137.00 (135.00)

RSS-5: 131.00 (129.00)

ISNR 20: 116.50 (116.00)

and Latex (60% drc): 85.50 (85.00)

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Published on February 11, 2020
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