Spot rubber ends unchanged
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The domestic rubber prices finished unchanged on Monday. The market activities were calm as major international indices closed slightly lower on bull liquidation followed by declines in crude oil futures. RSS 4 was quoted flat at Rs 132 a kg as on the previous weekend. The volumes were low.
"We expect the market to remain firm until August and a break below Rs 130 a kg may not materialise in the immediate future,'' an observer said. "The prices were firm mainly due to tight supply and most of the traders seemed to be waiting for revised quotes from the tyre sector''.
July contract weak
RSS 3 weakened at its July contract to ¥342.5 (Rs 137.75) from ¥343.3, August to ¥342.3 (343.9), September to ¥342.6 (343.4), October to ¥343 (344.3), November to ¥344.7 (346.1) and December futures to ¥345.2 (346.9) a kg at TOCOM. The grade (spot) declined to Rs 141.77 (142.44) a kg at Bangkok .Spot prices were (Rs/kg): RSS-4: 132 (132); RSS-5: 130 (130); ungraded: 127.50 (127.50); ISNR 20: 131 (131) and latex 60 per cent: 89 (89).
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Source : Business Line |
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