Rubber futures for delivery in December on the Indian Commodity Exchange (ICEX) hit the upper and lower circuits on Monday due to price volatility on demand and supply concerns in Indian markets.
Rubber contract for delivery in December opened Rs 11,850 a kg, touched a high of Rs 12172 a kg and a low of Rs 11850 a kg before settling at Rs 12,047 a kg at the end of the day.
Spot rubber closed unchanged since last trade. The benchmark variety RSS 4 was quoted at a steady Rs.118.00 (118.00) a kg at Kottaym & Kochi, according to Rubber Board and Rs 116.5 to Rs 118. a kg by the traders and dealers. RSS 3 (spot) Improved to Rs 95.46 (94.46) at Bangkok.
Data compiled by ICEX showed, price at ICEX Rubber January futures opened Rs 12000 a kg touched a high of Rs 12230 a kg and low of Rs 12000 a kg and settled in a range of Rs 12132 a kg on Monday.
Analysts attribute the sharp volatility in rubber futures to demand-supply concerns.
Price at ICEX Rubber February futures opened Rs 12198 a kg touched a high of Rs 12320 a kg and low of Rs 12198 a kg and settled in at Rs 12255 a kg.
Total volume traded in December, January and February contract is 1126 units with combined opened interest of 532 lots.