Commodities

Spot rubber price remains steady

Aravindan Kottayam | Updated on December 17, 2019 Published on December 17, 2019

Spot rubber continued to remain neutral on Tuesday. RSS 4 closed unchanged at ₹132.50 per kg according to traders and the Rubber Board. The market activities were in an extremely low key following a hartal in the State to protest against the Citizenship Amendment Act.

In futures, the January contracts improved to ₹136.00 (135.50) and February to ₹137.97 (137.66) per kg on the Indian Commodity Exchange (ICEX).

"The rubber on ICEX closed up by 0.37% amid expectations of a fall in domestic output", said Mr. Ajay Kedia, Director, Kedia Advisory. "Technically it got support at 135.70 and 135.50 levels. The next resistance is likely to be at 136.00 and a move above the same could see prices testing 136.10". .

RSS 3 (spot) firmed up to ₹115.98 (115.16) per kg at Bangkok. The December futures concluded at ₹113.87 (113.84), January at ₹114.00 (114.16) and February at ₹116.85 (116.49) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (₹/kg) were:

RSS-4: 132.50 (132.50)

RSS-5: 128.50 (128.50)

ISNR 20: 117.00 (117.00)

and Latex (60% drc): 90.50 (90.50)

Published on December 17, 2019
This article is closed for comments.
Please Email the Editor