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Rubber price closes firm on Jan.14

Spot rubber closed in green on Tuesday. RSS 4 was quoted firm at Rs.136.50 (135.50) per kg by traders. It has improved to Rs.136.00 (135.00) and Rs.132.00 (Rs 131.00) per kg respectively according to the Rubber Board and Dealers. The market continued to remain bullish on hopes that the tyre companies would come forward to procure the raw material soon. The commodity hit an intraday high of Rs.138.00 a kg during early trading hours possibly on covering purchases at prevailing levels. .

In futures, the January contracts declined to Rs. 139.00 (139.50), February to Rs. 140.12 (141.55) and March to Rs.142.73 (144.71) per kg on the Indian Commodity Exchange (ICEX). The near month January futures was down by 0.36% with a volume of 5 lots and total trade value of 6.95 Lakh.

RSS 3 (spot) improved to Rs.117.67 (115.98) per kg at Bangkok. The January futures firmed up to Rs.114.12 (113.98), February to Rs.118.30 (116.44) and March to Rs.125.07 (122.20) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 136.50 (135.50)

RSS-5: 131.50 (130.50)

ISNR 20: 116.50 (115.50) and Latex (60% drc): 85.50 (85.50)

The Hindu Business Line