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Spot rubber regained strength in tandem with the global gains on Wednesday. RSS-4 improved to ₹162 (160) a kg, as per traders. The grade was quoted firm at ₹161 (160) per kg by the Rubber Board.
The transactions were in a low key since there were no quantity sellers in the local trading houses even at higher levels. According to sources, certain dealers were trying to build up stocks possibly fearing that they might not be able to cover the position sold at lower levels. The market is likely to move above ₹170 a kg in a week or two, driven by short supplies and a steady rise in domestic demand. In futures, the most active January contracts were up 0.67 per cent from Tuesday’s settlement price to close at ₹164.80 per kg with a volume of 20 lots on the Multi Commodity Exchange (MCX). RSS-3 (spot) bounced back to ₹148.20 (145.55) per kg at Bangkok. SMR20 recovered to ₹136.73 (132.67) and Latex to ₹106.07 (104.59) per kg at Kuala Lumpur. The natural rubber contract for the May 2022 delivery was up 0.2 per cent from previous day’s settlement price to close at 14.97 Yuan (₹175.48) per kg with a volume of 262,351 lots in daytime trading on Shanghai Futures Exchange (ShFE). Spot rubber rates (₹/kg) were: RSS-4:162 (160), RSS-5: 157.50 (156), ISNR20: 148 (146) and Latex (60% drc): 129 (129).
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