Comments
Spot rubber continued to regain the lost glory on Monday. The market ended in green mainly on trader-to-trader transactions anticipating an immediate recovery in prices due to a rise in demand and decline in arrivals. As per reports, the rising temperature levels are likely to affect rubber yield in Kerala which accounts for almost 90 percent of total rubber production in India . RSS4 improved to ₹174 (172) and ₹173 (172) per kg respectively, according to traders and the Rubber Board. The grade hit an intraday high of ₹175 a kg on aggressive buying and short covering during early trading hours. In futures, the most active March contracts were up 0.78 percent from last day’s settlement price to close at ₹171.01 per kg with a volume of 1 lot on the Multi Commodity Exchange (MCX). RSS3 (spot) declined to ₹168.75 (168.75) per kg at Bangkok. SMR20 weakened to ₹.137.16 (135.68) and Latex to ₹127.70 (127.46) per kg at Kuala Lumpur. The natural rubber contract for the May 2022 delivery was down 3.31% from previous day’s settlement price to close at 13.45 Yuan ( ₹161.81) per kg with a volume of 238,100 lots in daytime trading on Shanghai Futures Exchange (ShFE). Spot rubber rates ( ₹/kg) were: RSS4: 174 (172), RSS5: 171 (169), ISNR20: 163 (162.00) and Latex (60% drc): 125 (125)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.