Firm crude lifts spot rubber to Rs 120/kg
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Spot rubber continued its upward journey on Wednesday. RSS 4 improved to Rs 120 a kg from Rs 119 0 a kg at Kottayam and Kochi as major international indices shot up catalysed by firm oil and precious metal futures. According to observers, supply concerns kept the domestic buyers aggressive and the prices are expected to remain firm in the immediate future on strong fundamentals. RSS 3 (spot) moved up to Rs 119.28 from Rs 116.63 a kg at Bangkok. The June futures for the grade improved to ¥307 (Rs 120.73) from ¥300 a kg at TOCOM.
Futures weak
The rubber futures turned weak on NMCE. The May contract slipped to Rs 120 (Rs 120.94), June to Rs 117.64 (Rs 118.71), July to Rs 114.10 (Rs 115.26) and August to Rs 110.39 (Rs 111.07) per kg for RSS 4. Spot prices (Rs a kg) were: RSS-4: 120 (119); RSS-5:118 (117.50); ungraded: 115 (114.50); ISNR 20: 117 (116.50) and latex 60% : 81 ( 80).
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Source : Business Line |
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