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Spot rubber was bullish on Wednesday. RSS4 improved further to ₹129 (₹128.00) per kg according to traders and the Rubber Board. It was quoted at ₹125 (₹124) per kg by dealer. A leading tyre maker bought sheet rubber up to ₹129 a kg during the latter half of the session.The trend was partially mixed.
The commodity is passing through the lean production season and tapping has been halted in all most all plantation areas. “The market is suffering from acute short supplies and we expect tyre companies to remain active in the local markets during the days ahead”, a dealer said.
The July futures firmed up to ₹129.01 (128.88), August to ₹131.16 (129.98) and September to ₹132.30 (129.04) per kg on the Indian Commodity Exchange (ICEX). The July contracts were up by 0.10 per cent with a volume of five lots and total trade value of ₹6.45 lakhs.
RSS3 improved at its July futures to ₹103.35 (102.39) and August to ₹103.49 (102.53) per kg on the Tokyo Commodity Exchange (TOCOM). SMR 20 weakened to ₹88.38 (₹88.61) and Latex 60 per cent to ₹83.46 (₹83.59) per kg at Kualalumpur. RSS 3 (spot) declined to ₹113.88 (114.94) per kg at Bangkok.
Spot rubber rates (Rs/kg) were: RSS4:129.00 (128.00); RSS5: 126.00 (125.00); ISNR20: 109.00 (109.00) and Latex (60 per cent drc): 81.50 (81.50).
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