Spot rubber remains firm

Aravindan Kottayam | Updated on November 22, 2019

Spot rubber finished firm on Friday. RSS 4 improved to Rs.130.50 (130.00) and Rs.130.00 (129.50) per kg respectively according to the Rubber Board. The grade firmed up to Rs.126.00 (125.50) per kg as quoted by the dealers. The market regained strength on covering purchases and sheet rubber hit an intraday high of Rs.131.00 a kg during late trading hours.

“The tyre makers preferred to keep a very low profile though they were visibly active in the local trading houses since a couple of days. We expect their volumes to increase if the international indices continue to remain bullish in the days ahead,” a trader said

In futures, the December contract firmed up to Rs. 131.67 (131.44) and January contract to Rs. 132.87 (132.23) while the February contract slid to Rs. 135.57 (135.75) per kg on the Indian Commodity Exchange (ICEX).

RSS 3 (spot) improved to Rs. 110.48 (110.15) per kg at Bangkok. The November futures concluded at Rs. 114.04 (111.82), December at Rs. 110.69 (111.36) and January at Rs. 113.73 (113.60) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 130.50 (130.00)

RSS-5: 127.50 (127.00)

ISNR 20: 119.50 (118.50)

and Latex (60% drc): 91.00 (91.00)

Published on November 22, 2019

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