Spot rubber continues to rule firm
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Rubber prices finished unchanged on Thursday. The market sustained at the quoted levels even against weak global indices on covering purchases. Sheet rubber finished firm at Rs 135 a kg as on Wednesday. The transactions were low.
The market might have finished marginally on the higher side had there not been a favourable change in weather, an observer said. It would be difficult for the domestic prices to rule above the international rates for a long time without the support of strong fundamentals, he added.
Futures slip
RSS 3 slipped its August futures to ¥332.5 (Rs 129.28) from ¥332.8, September to ¥323.9 (324.4), October to ¥318.7 (319.7), November to ¥317.1 (318.4), December to ¥314.9 (317.4) and January to ¥315.2 (316.7) a kg at TOCOM. The grade (spot) fell further to Rs 128.04 (129.09) a kg at Bangkok. Spot rubber prices were (Rs/kg): RSS-4: 135 (135); RSS-5: 132 (132); ungraded: 126 (126); ISNR 20: 131 (131) and latex 60 per cent: 83 (83).
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Source : Business Line |
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