Agri Business

Mixed trend in spot rubber prices

Aravindan Kottayam | Updated on January 27, 2021

Spot rubber ended in red despite a firm closing in domestic futures on Wednesday. RSS 4 slid to ₹151.00 (151.50) per kg according to traders and the Rubber Board. The grade was quoted lower at ₹147.00 (147.50) per kg by dealers.

The trend continued to remain mixed as RSS5 and ISNR20 closed unchanged while latex also lost ground on dull demand. In futures, the natural rubber contract for January delivery improved to ₹152.70 (150.55) per kg on the Multi Commodity Exchange (MCX).

The International monetary Fund (IMF) scaled up world economic outlook in 2021 to 5.5 per cent from 5.2 per cent expected earlier. As per reports, the IMF sees import and export volumes rising by 8.1 per cent for global trade this year, slightly less than the 8.3 per cent increase seen in October 2020 after an estimated 9.6 per cent decline last year. .

The most active natural rubber contract for May 2021 delivery was up by 65 Yuan (₹732.70) from previous day's settlement price to close at 14,310 Yuan (₹161,307.11) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) inched up to ₹153.17 (153.14) per kg at Bangkok. SMR 20 improved to ₹114.79 (113.33) and Latex to ₹97.80 (97.73) per kg at Kualalumpur.

Spot rubber rates (Rs/kg) were: RSS4:151.00 (151.50); RSS5: 144.00(144.00); ISNR20: 128.00 (128.00) and Latex (60% drc): 111.00 (112.00).

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Published on January 27, 2021
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