Spot rubber ended in red on Thursday. The commodity opened steady but lost the initial strength later on buyer resistance following an overall weakness in domestic futures and overseas trendsetters.
According to observers, the market is likely experience a short-term correction as we are almost at the fag end of the current financial year.
RSS-4 weakened to ₹170.50 (171) a kg, according to traders and the Rubber Board. The grade slid to ₹165.50 (166) as per dealers.
In futures, the March delivery surrendered to ₹168.15 (171.99) a kg from Wednesday’s settlement price on the Multi Commodity Exchange (MCX).
RSS-3 (spot) dropped to ₹171.68 (172) per kg at Bangkok. SMR 20 improved to ₹133.91 (131.20), while Latex declined to ₹123.59 (124.02) per kg at Kuala Lumpur.
The most active natural rubber contract for May delivery was up 15 Yuan (₹167.32) from previous day’s settlement price to close at 15,175 Yuan (₹169,300.63) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS 4:170.50 (171); RSS 5: 167.50 (168); ISNR20: 151 (151) and Latex (60% drc): 130 (130).
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