Agri Business

Spot prices remained flat

Aravindan Kottayam | Updated on June 10, 2021

RSS4 was quoted steady at ₹169.50 per kg

Spot rubber finished flat on Thursday. RSS4 was quoted steady at ₹169.50 per kg according to traders and the rubber board. The grade closed unchanged at ₹164.50 per kg, said dealers. The trend was partially mixed as RSS5 improved a tad while latex lost marginally on dull demand.

“We expect the market to regain strength once the lockdown restrictions are withdrawn”, a dealer told BusinessLine. “I do believe that the tyre companies will procure the raw material even above ₹170. We have moderate enquiries from the north-Indian buyers also,” he added.

“There is a notable increase in the production and consumption of natural rubber after the first wave of Covid-19”, said George Valy, President, and Biju P Thomas, General Secretary, Indian Rubber Dealers Federation.

In futures, the most active June delivery was down 0.41 per cent from Wednesday’s settlement price to close at ₹171.65 per kg with a volume of 37 lots on the Multi Commodity Exchange (MCX).

RSS 3 (spot) weakened to ₹161.62 (161.97) per kg at Bangkok. SMR 20 slid to ₹121.18 (121.32) while Latex ended in a steady note at ₹104.24 per kg at Kualalumpur.

The natural rubber contract for the September delivery was down 250 Yuan (₹2857.86) from previous day’s settlement price to close at 12,800 Yuan (₹146,310.04) a tonne with a volume of 431,487 lots in day time trading on Shanghai Futures Exchange (ShFE).

The June futures declined 1.17 per cent to close at 244.0 Yen (₹162.87) per kg with a volume of 5 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) were: RSS4:169.50 (169.50); RSS5: 167.00 (166.50); ISNR20: 157.00 (157.00) and Latex (60 per cent drc): 125.00 (125.25).

Meanwhile, the rubber board is organising a two day online training programme in rubber sheet processing and grading on 17 and 18 June 2021. The training will be from 10.00 am to 1 pm every day. The training content includes latex collection, processing into sheet rubber, smoke houses, grading as per ‘Green Book’ standards etc. For details, contact on phone: 0481- 2353127 or WhatsApp 04812353201.

Published on June 10, 2021

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