Agri Business

Covering purchases lift spot rubber

Our Correspondent Kottayam | Updated on July 30, 2021

Latex tops ₹120/kg

Spot rubber finished firm on Friday.

“The market continued to explore further highs mainly on covering purchases but they could not procure the minimum desired quantity to fulfil their early commitments,” an observer said.

RSS-4 ended in green at ₹171.50 (171) per kg after hitting an intra-day high of ₹172, as per traders. The grade improved to ₹171 (170.50) and ₹166 (165.50) per kg, respectively, according to the Rubber Board and dealers.

The front month August delivery was up 0.69 per cent from Thursday’s settlement price to close at ₹174.01 per kg with a volume of 24 lots on the Multi Commodity Exchange (MCX).

RSS-3 (spot) improved to ₹136.23 (135.33) per kg at Bangkok. SMR 20 firmed up to ₹126.91 (124.49) and Latex to ₹88.97 (88.07) at Kuala Lumpur.

The natural rubber contract for the September delivery was up 1.30 per cent from previous day’s settlement price to close at 13,420 Yuan (₹154,551.30) a tonne with a volume of 354,797 lots in day time trading on Shanghai Futures Exchange (ShFE).

The most active January 2022 delivery added 0.30 per cent to last day’s settlement price and closed at ¥220 (₹149.38) per kg with a volume of 487 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg): RSS-4:171.50 (171); RSS-5: 169 (168.50); ISNR20: 156.50 (156) and Latex (60% drc): 127 (127).

Published on July 30, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like