Spot rubber continued to remain in the bullish orbit on Wednesday. The commodity improved in tandem with the global indices on fresh buying and short covering while the inflow of the raw material was reported to be meagre. ISNR 20 and Latex closed unchanged, as there were no enquiries from the non-tyre sector and hence, the trend was partially mixed.
RSS4 firmed up to Rs.140.00 (138.00) per kg both at Kottayam and Kochi, according to traders and the Rubber Board. The grade improved to Rs.136.00 (133.00) per kg by dealers. The widening gap between the domestic and global markets kept traders visibly active on sheet rubber during late trading hours. Meanwhile, natural rubber futures closed higher on Shanghai Futures Exchange (SHFE) in day time trading on Wednesday. The most active January 2021 delivery on the global trendsetter was up by 40 Yuan (Rs.428.75) to close at 12,830 Yuan (Rs.137,488.46) a tonne.
RSS 3 (spot) flared up to Rs.153.54 (148.46) per kg at Bangkok. SMR 20 weakened to Rs.103.95 (104.09) while Latex 60% improved to Rs.86.45 (85.87) per kg at Kualalumpur.
Spot rubber rates (Rs/kg) were: RSS4:140.00 (138.00); RSS5: 135.00 (133.00); ISNR20: 111.00 (111.00) and Latex (60% drc): 78.00 (78.00).
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Published on September 2, 2020
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