Agri Business

Spot rubber ended weak

Aravindan Kottayam June 9 | Updated on June 09, 2021

RSS4 dropped to ₹169.50

Spot rubber closed weak on Wednesday. As per the modified lockdown guidelines issued by the Government of Kerala, rubber trading is allowed on all week days from 9 June.

RSS4 dropped to ₹169.50 (170.00) per kg according to traders and the Rubber board. The grade was quoted at ₹164.50 (165.00) per kg by dealers.

The market opened steady but lost the initial strength later on buyer resistance since the restrictions imposed by the State have seriously affected the availability of workforce, supply-chain logistics and transportation network. Meanwhile, a leading tyre maker bought sheet rubber at the quoted level, an observer said.

In futures, the most active June delivery was up 0.26 per cent from Tuesday’s settlement price to close at ₹172.02 per kg with a volume of 70 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the September delivery was down 10 Yuan (₹114.26) from previous day's settlement price to close at 13,005 Yuan (₹148,618.25) a tonne with a volume of 303,296 lots in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) declined to ₹161.97 (162.63) per kg at Bangkok. SMR 20 improved to ₹121.32 (120.61) while Latex weakened to ₹104.24 (106.50) per kg at Kualalumpur.

The June futures for RSS3 was down 0.16 per cent to close at 247.6 Yen (₹165.17) per kg with a volume of 6 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) were: RSS4:169.50 (170.00); RSS5: 166.50 (166.50); ISNR20: 157.00 (157.00) and Latex (60 per cent drc): 125.25 (125.50).

Published on June 09, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.