Agri Business

Spot rubber ends flat

Aravindan Kottayam | Updated on September 11, 2020 Published on September 11, 2020

Spot rubber finished flat on Friday. RSS4 was quoted steady at Rs. 133.50 per kg by traders and the Rubber Board. The grade closed unchanged at Rs. 129.50/kg according to dealers. The trend continued to remain partially mixed as RSS5 lost marginally amidst scattered transactions.

According to the Association of Natural Rubber Producing Countries (ANRPC), the developments in the market --in the short and medium term heavily depends on the global economic recovery and a revival of the automobile industry and the transport sector. The realisation of these depends on how early an effective vaccine against coronavirus is developed and its mass production is achieved.

Natural rubber market was dynamic as prices both in the physical and futures markets gained considerably during August 2020. The RSS3 market at Bangkok stole the show by posting a 24.1 per cent rise during the month compared to a 7.9 per cent rise in SMR20 at Kuala Lumpur, 4.0 per cent rise in NR latex at Kuala Lumpur, and a 3.7 per cent rise in RSS4 at Kottayam.

The September futures improved by 5 Yuan (Rs.53.82) to close at 11.390 Yuan (Rs.122,613.16) a tonne in day time trading  on Shanghai Futures Exchange (SHFE).

RSS 3 (spot) declined to Rs. 138.66 (139.17) per kg at Bangkok. SMR 20 weakened to Rs. 97.06 (97.99) while Latex 60 per cent inched up to Rs. 85.37 (85.26) per kg at Kualalumpur.

Spot rubber rates (Rs/kg) were: RSS4:133.50 (133.50); RSS5: 128.00 (128.50); ISNR20: 109.00 (109.00) and Latex (60% drc): 77.00 (77.00).     

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Published on September 11, 2020
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