Spot rubber rules steady
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Spot rubber closed unchanged on Wednesday. The domestic commodity markets failed to react in tune with a recovery in stock markets and RSS 4 concluded steady at Rs 93.75 and Rs 94 a kg respectively at Kottayam and Kochi after declining marginally to Rs 93.50 a kg on early trading. The volumes were low. RSS 3 improved to ¥ 269.1 ( Rs 100.54) at its February futures from ¥ 268 a kg at TOCOM. The grade’s spot was weak at Rs 103.31 ( 103.66) a kg at Bangkok. FUTURES RECOUP Rubber regained the initial losses to end almost steady on NMCE. The February futures was quoted at Rs 95.30 ( 95.24), March at Rs 97.20 ( 97.04), April at Rs 99.16 ( 99.04) and May at Rs 101.23 ( 101.42) per kg for RSS 4. The near month February downed the shutters at Rs 95.74 ( 95.36) a kg on MCX. The volumes on NMCE fell to 739 ( 1,324) lots trading 243 ( 524) lots in February, 226 ( 545) lots in March, 211 ( 181) lots in April and 59 ( 74) lots in May. The open interest stood at 8,086 ( 8,125) tonnes. The outstanding positions were 4,164 ( 4,204) tonnes in February, 2,890 ( 2,935) tonnes in March, 907 ( 880) tonnes in April and 125 ( 106) tonnes in May. Spot prices were ( Rs/ kg): RSS- 4: 93.75 ( 93.75); RSS- 5: 91.50 ( 91.50); ungraded: 89.75 ( 89.75); ISNR 20: 90.50 ( 90.50) and latex 60 per cent: 59 ( 59).
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Source : Business Line |
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