Spot rubber finished lower on Tuesday. RSS 4 weakened to Rs.131.00 (131.50) per kg according to traders and the Rubber Board. The grade dropped to Rs.127.00 (127.50) per kg according to Dealers. The trend was partially mixed as RSS 5 closed unchanged amidst extremely dull volumes. The domestic markets were totally in a festive mood during the last trading day before the eve of Christmas.
In futures, the January contracts declined to Rs. 134.12 (134.51) and February to Rs. 135.89 (136.21) per kg on the Indian Commodity Exchange (ICEX).
"ICEX rubber January futures closed at 13412.00, down 0.29 per cent today. We maintain our bearish view on prices and expect rubber to test 13000.00 level in the days ahead. On the upside, the immediate resistance is at 13500.00", said Akshay Agarwal, MD, Acumen Capital.RSS 3 (spot) slid to Rs. 113.79 (113.93) per kg at Bangkok. The January futures improved to Rs. 113.31 (111.73), February to Rs. 114.55 (113.94) and March to Rs. 118.46 (117.63) per kg on the Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (Rs/kg) were:
RSS-4: 131.00 (131.50)
RSS-5: 126.50 (126.50 )
ISNR 20: 114.00 (114.50)
Latex (60 per cent drc): 86.00 (86.50)
