Market on June 20: Rubber prices rule steady

KOTTAYAM, JUNE 20:

Physical rubber prices finished almost steady on Wednesday. There were no fresh factors to set a definite trend for the commodity in the market. The trend was partially mixed.

Sheet rubber closed unchanged at Rs 187 a kg according to traders. The grade improved to Rs 187.50 (187) a kg both at Kottayam and Kochi as quoted by the Rubber Board.

The July series increased to Rs 188.49 (187.18), August to Rs 187.38 (186.12) and September to Rs 186 (184.93) while the November series dropped to Rs 185.25 (186.20) a kg on National Multi Commodity Exchange (NMCE).

The Tokyo rubber futures edged higher on speculative buying as the market found a strong support level at ¥250 but the gains were limited as players remained cautious ahead of the US Federal Reserve’s decision on interest rates.

RSS 3 (spot) slipped to Rs 192.76 (192.95) a kg at Bangkok. The June futures weakened to ¥ 253 (Rs 179.60) from ¥ 254.5 during the day session but then bounced back to ¥ 256 (Rs 181.74) a kg in the night session on Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4: 187 (187); RSS-5: 182.50 (182.50); Ungraded: 177 (177); ISNR 20: 182.50 (182.50) and Latex 60 per cent: 132 (131).

Source: http://www.thehindubusinessline.com/markets/commodities/article3551150.ece