Agri Business

Rubber prices witness margin high

Aravindan Kottayam | Updated on June 14, 2021

Observers expect sheet rubber to reach further highs this week

Spot rubber finished marginally higher on Monday.

A leading tyre maker continued to procure RSS4 at the prevailing levels and it improved to ₹170.00 (169.50) per kg according to traders and the rubber board. The grade firmed up to ₹165.00 (164.50) per kg as reported by the dealers.

“The arrivals were lower than anticipated and we expect sheet rubber to reach further highs this week,” an observer said.

The trend was mixed as ISNR20 improved mainly on enquiries from the general rubber goods sector while latex ended in red on buyer resistance.

In futures, the front month June delivery was down 0.10 per cent from Friday’s settlement price close at ₹171.90 per kg with a volume of 39 lots on the Multi Commodity Exchange (MCX).

RSS 3 (spot) weakened to ₹158.72 (160.08) per kg at Bangkok. SMR 20 improved to ₹119.80 (119.24) while Latex declined to ₹101.76 (102.38) per kg at Kualalumpur.

The most active November futures lost 0.38 per cent from previous day’s settlement price to close at 238.0 Yen (₹158.94) per kg with a volume of 31 lots on the Osaka Exchange, Japan. The Shanghai Futures Exchange (ShFE) remained closed on account of “Dragon Boat Festival”.

Spot rubber rates (₹/kg) were: RSS4:170.00 (169.50); RSS5: 167.50 (167.50); ISNR20: 157.00 (156.50) and Latex (60 per cent drc): 123.00 (124.00).

Published on June 14, 2021

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