Spot rubber prices remain flat

Spot rubber closed unchanged on Monday. RSS 4 finished flat at Rs.132.50 a kg according to traders and the Rubber Board. The grade was steady at Rs.128.50 a kg according to Dealers. The market was almost inactive during late trading hours as traders preferred to stay back possibly due to the weak closing in domestic futures and global trendsetters.

The January futures declined to Rs. 135.50 (136.62) and February to Rs. 137.66 (138.63) per kg on the Indian Commodity Exchange (ICEX).

"The ICEX January futures closed slightly lower on Monday. It has been consolidating below the intermediate resistance of Rs.137.00 and an upward movement is expected only if it breaks above the same. On the downside, 135.50 is likely to act as a key support", said Mr. Akshay Agarwal, MD, Acumen Capital.

RSS 3 (spot) weakened to Rs.115.16 (115.49) per kg at Bangkok. The December futures slid to Rs.113.84 (113.93), January to Rs.114.16 (114.18) and February to Rs.116.49 (116.89) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/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)