Weaker equities hold spot rubber steady

Our Correspondent Kottayam | Updated on February 28, 2020

Spot rubber ended in a steady note on Friday. RSS-4 continued to remain unchanged at ₹135 a kg, according to traders and the Rubber Board. The grade finished flat at ₹131 a kg as reported by the dealers. According to observers, the market managed to sustain at the quoted levels on acute short supplies.

Most traders preferred to sideline the market following another steep fall in TOCOM futures. Sharp declines in domestic stock markets also weighed heavily on the sentiments.

In futures, March contracts weakened to ₹132.20 (133.34) and April to ₹134.98 (136.25) per kg on the Indian Commodity Exchange (ICEX).

March futures surrendered to ₹111.49 (114.30), April to ₹112.62 (116.44) and May to ₹113.55 (117.29) per kg on the Tokyo Commodity Exchange (TOCOM). RSS-3 (spot) closed marginally higher at ₹116.52 (116.46) per kg at Bangkok.

Spot rubber rates (₹/kg): RSS-4: 135 (135); RSS-5: 129.50 (129.50); ISNR 20: 118.50 (118.50) and Latex (60% drc): 84.50 (84.50).

Published on February 28, 2020

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