Agri Business

Spot rubber ended in red

Aravindan Kottayam | Updated on June 25, 2021

Traders expect the inflow to gain momentum next week

Spot rubber ended in red on Friday. There were no enquiries from major consuming industries as expected earlier during the latter half of the week and the commodity lost ground despite a moderate recovery in domestic futures and global trendsetter Shanghai rubber futures.

“The arrivals have shown signs of improvement and we expect the inflow to gain momentum next week. The prices are likely to remain subdued in the days ahead unless there is also an improvement in demand,” dealers said.

RSS4 weakened to ₹168.50 (169.00) per kg as per traders. The grade closed unchanged at ₹169.00 per kg according to the Rubber Board. The overall volumes continued to remain dull.

In futures, the June delivery bounced back by 1.78 per cent from Thursday’s settlement price to close at Rs.169.50 per kg with a volume of 27 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the September delivery was up 260 Yuan (₹2988.14) from previous day’s settlement price to close at 13,030 Yuan (₹149,765.18) a tonne with a volume of 412,125 lots in day time trading on Shanghai Futures Exchange (ShFE).

The July futures for RSS3 lost 1.21 percent to close at 236.8 Yen (₹158.65) per kg with a volume of 6 lots on the Osaka Exchange, Japan.

RSS 3 (spot) dropped to ₹152.44 (152.72) per kg at Bangkok. SMR 20 firmed up to ₹124.31 (123.45) while Latex slid to ₹99.45 (99.86) per kg at Kualalumpur.

Spot rubber rates (₹/kg) were: RSS4:168.50 (169.00); RSS5: 166.50 (167.00); ISNR20: 156.00 (156.50) and Latex (60% drc): 119.50 (119.50).

Published on June 25, 2021

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