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Spot rubber holds steady on buyer resistance

Spot rubber was quoted steady despite a firm closing in overseas markets on Friday. RSS 4 finished flat at ₹157.50 per kg, according to traders and the Rubber Board. The grade hit an intra-day high of ₹158.50 during early trades, but shed the initial gains later on buyer resistance. The trend was mixed as RSS 5 and Latex improved further on enquiries from the general rubber goods sector.

In futures, the natural rubber contract for February delivery improved to ₹162.49 (161.06) per kg from Wednesday’s settlement price on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for May delivery was up 365 Yuan (₹4091.25) from previous day’s settlement price to close at 15,650 Yuan (₹175,419.77) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

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RSS 3 (spot) improved to ₹171 (169.06) per kg at Bangkok. SMR 20 firmed up to ₹123.09 (122.54) and Latex to ₹107.87 (105.75) per kg at Kuala Lumpur.

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Spot rubber rates (₹/kg): RSS 4:157.50 (157.50); RSS 5: 153 (152.50); ISNR20: 144 (144) and Latex (60% drc): 118 (116.50).

This article is auto-generated by Algorithm Source: www.thehindubusinessline.com

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