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Spot rubber made all-round gains on Thursday. RSS 4 improved to Rs 132.50 (132.00) per kg, according to traders and the Rubber Board. The grade firmed up to Rs 128.50 (128.00) per kg, dealers said. Sentiment got a boost on covering purchases at lower levels, on expectation that the tyre companies wouldjoin the buyers' queue soon.
The January futures improved to Rs 138.12 (137.24), February to Rs 139.30 (138.75) and March to Rs 141.42 (140.82) per kg on the Indian Commodity Exchange (ICEX). The near month January futures was up by 0.64 per cent, with a volume of 165 lots and a total trade value of 225.97 lakh.
"Technically rubber got support at Rs 13,670.00 and Rs 13,790.00 levels. The next resistance is likely to be seen at Rs 13,990.00 and a move above the same could lift prices to the Rs 14,070.00 level,” said Ajay Kedia, Director, Kedia Advisory.
RSS 3 (spot) weakened to Rs 116.13 (117.08) per kg at Bangkok. The January futures declined to Rs 115.17 (117.14), February to Rs 117.45 (120.38) and March to Rs 122.67 (125.79) per kg on the Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (Rs/kg) were:
RSS-4: 132.50 (132.00)
RSS-5: 127.00 (126.50)
ISNR 20: 113.50 (113.00)
and
Latex (60% drc): 85.50 (85.00)
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