Spot rubber trades flat – The Hindu BusinessLine
Spot rubber ongoing to remain subdued on Wednesday. RSS four declined additional to ₹136.00 (136.50) a kg, according to traders and the Rubber Board. The quality slid to ₹132.00 (132.50) a kg, according to the dealers.
Most traders were hesitant to enlarge their commitments subsequent a weak closing on TOCOM futures. The pattern was blended as RSS 5, ISNR twenty and Latex completed flat in an practically inactive trading session.
In futures, the March contracts dropped to ₹135.ninety three (137.fifteen), April fell to ₹138.ninety two (140.02) and Could to ₹142.23 (143.98) for every kg on the Indian Commodity Trade (ICEX). The close to month March contracts were down by .89 for every cent with a volume of 289 a lot and total trade worth of 393.89 lakhs.
“We continue on to preserve a bearish bias on selling prices. On the upside, a crack previously mentioned the resistance 13,seven hundred could reverse the current short time period pattern and push selling prices to higher amounts” reported Akshay Agarwal, MD, Acumen Funds.
RSS 3 (location) firmed up to ₹112.52 (112.52) for every kg at Bangkok. The February futures weakened to ₹105.04 (107.31), March to ₹118.05 (118.fifty eight) and April ₹120.31 (121.twelve) for every kg on the Tokyo Commodity Trade (TOCOM).
Spot rubber fees (Rs/kg) were:
| RSS-four | 136.00 (136.50) |
| RSS-5 | 131.50 (131.50) |
| ISNR twenty | 119.00 (119.00) |
| Latex (sixty% drc) | 86.00 (86.00) |
