Comments
Spot rubber ended on a positive note on Friday. RSS 4 finished firm at Rs.134.00 (133.50) per kg, according to traders and the Rubber Board. The same improved to Rs.130.00 (129.50) per kg as quoted by the Dealers. The market strengthened following the enquiries from the tyre sector, while the local trading houses were reported to be suffering from acute short supplies.
In futures, the February contracts concluded at Rs. 133.50 (132.45), March at Rs. 135.48 (134.36) and April at Rs. 138.60 (137.54) per kg on the Indian Commodity Exchange (ICEX). The near month February contracts were up by 0.79% with a volume of 415 lots and total trade value of 550.34 lakh.
RSS 3 declined at its February futures to Rs. 95.04 (97.02), March to Rs. 108.06 (109.21) and April to Rs.113.27 (115.31) per kg on the Tokyo Commodity Exchange (TOCOM). Global rubber prices at TOCOM have lost around 18 per cent so far this year. Prices for commodities including natural rubber have plunged in February because of the decreasing demand from China, where the new coronavirus outbreak is expected to drag down prices further. RSS 3 (spot) inched up to Rs. 108.12 (107.51) per kg at Bangkok.
Spot rubber rates (Rs/kg) were:
RSS-4: 134.00 (133.50)
RSS-5: 128.00 (127.50)
ISNR 20: 115.00 (114.50)
and
Latex (60% drc): 84.50 (84.50)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.