Commodities

Spot rubber prices firm up

Aravindan Kottayam | Updated on January 09, 2020 Published on January 09, 2020

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)

Published on January 09, 2020
  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.