Kottayam, June 29 Spot rubber closed lower on Tuesday. RSS4 weakened to ₹167.00 (168.00) and ₹167.50 (168.50) per kg respectively according to traders and the Rubber Board. The grade was quoted at ₹162.50 (163.50) per kg by dealers.

Certain dealers and growers were sellers on sheet rubber but latex continued explore further highs on sustained demand from the north Indian buyers. Meanwhile, a leading tyre maker bought sheet rubber up to ₹167 a kg, an observer said.

Declines in the domestic futures and overseas markets weighed heavily on local sentiments. As per reports, speculative traders across globe turned bearish on concerns over the spike of Delta variant of Covid-19 in the southeast Asian nations, Australia, Hong Kong and a number of European countries.

In futures, the near month July delivery shed 1.18 per cent from Monday's settlement price to close at ₹166.02 per kg with a volume of 19 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the July delivery was down 330 Yuan (₹3793.29) from previous day's settlement price to close at 12,660 Yuan (₹145,541.80) a tonne with a volume of 68 lots in day time trading on Shanghai Futures Exchange (ShFE).

The July futures lost 0.80 per cent to close at 234.3 Yen (₹157.35) per kg with a volume of 17 lots on the Osaka Exchange, Japan.

RSS 3 (spot) surrendered to ₹148.98 (152.05) per kg at Bangkok. SMR 20 dropped to ₹122.29 (123.40) and Latex to ₹96.46 (97.81) per kg at Kualalumpur.

Spot rubber rates (₹/kg) were: RSS4:167.00 (168.00); RSS5: 165.00(165.50); ISNR20: 156.00 (156.00) and Latex (60 per cemt drc): 123.50 (122.50).

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