Short-covering saves the day for rubber | DZHI - DZH International 

Short-covering saves the day for rubber

  • i2Matrix
  • 27 March 2020
Short-covering saves the day for rubber
Spot rubber prices were not available on Thursday following the 21-day nation-wide lockdown to prevent the further spread of Covid 19.
In futures, the April contracts improved to ₹118.35 (115.69) and May to ₹119.77 (116.59) per kg on the Indian Commodity Exchange (ICEX). The near month April contracts were up by 2.30 per cent with a volume of 284 lots and total traded value of ₹331.64 lakh.
According to analysts, despite concerns over the coronavirus scare, the market recovered partially on bargain-hunting coupled with short-covering at lower levels.
RSS-3 (spot) inched up to ₹106.15 (106.13) a kg at Bangkok. In futures, the April contracts weakened to ₹98.09 (99.67), May to ₹99.12 (99.94) and June to ₹100.83 (101.93) on the Tokyo Commodity Exchange.
-- The Hindu




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Benny Lee

Founder of i2Matrix. A market strategist, private trader and sought-after financial speaker and trainer in the Asian Region, Benny Lee has coached hundreds of professional and retails traders and investors in Malaysia, Singapore, Hong Kong, Thailand, Vietnam, Pakistan for more than 13 years. His passion in trading and chart analysis leads him to develop trading strategies that have helped him and many others to trade and invest successfully in the financial markets.

Benny Lee is recognized by the Malaysian and Singapore Stock Exchange as a Credible Trainer. He has also trained professionals in Malaysia under Securities Commission’s Continuous Professional Education (CPE) Program. He is also a market strategist Jupiter Securities Sdn Bhd, a Malaysian stock-broking firm.

Benny has been invited to share his expert opinion in major commodities and financial events in Malaysia, Singapore, India, Indonesia, Vietnam, Thailand, and Romania. His analysis on the financial markets can also be found on a regular basis in leading financial magazines like Smart Investor, Shares Investment Magazine and The Edge Daily in Malaysia, and Pulses Magazine in Singapore. He has also appeared on TV Financial Programs such as Capital TV (Malaysia), Channel News Asia (Singapore) and Sunbiz (Pakistan) to share his views about the markets and technical analysis.

Today, you can find his market comments regularly on The Financial Edge Daily (Wednesdays), Interview on BFM89.9 ( business radio station on Mondays at 9.00 am, The Busy Weekly, a Chinese business weekly and Palm Oil Fortune (A monthly magazine by the Malaysian Palm Oil Council, MPOC). His views are also regularly quoted on Bloomberg.

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