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Spot rubber closed lower tracking the overall weakness in international markets on Thursday. Technically, the market is showing signs of weakness as it has fallen below 160, an observer said.
There were no quantity buyers even at lower levels but the commodity managed to limit the losses on supply concerns.
RSS 4 declined to ₹159 (160) per kg both at Kottayam and Kochi, according to traders and the Rubber Board. The grade was quoted weak at ₹155 (156) per kg by dealers.
RSS 3 (spot) dropped to ₹166.33 (169.06) per kg at Bangkok. SMR 20 weakened to ₹113.96 (115.66) and Latex to ₹109.16 (109.77) per kg at Kuala Lumpur.
Natural rubber futures declined further in day time trading on Shanghai Futures Exchange (ShFE). The most active May 2021 delivery was down by 230 Yuan (₹2,591.74) to close at 14,210 Yuan (₹160,124.35) a tonne.
Spot rubber rates (₹/kg): RSS 4:159 (160); RSS 5: 150 (151); ISNR20: 131 (131) and Latex (60% drc): 107 (107).
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