Spot rubber ended the week on a steady note on Friday. The market lost its direction as sentiments remained under pressure following the Government’s decision to impose a total lockdown from May 8 to May 16 in view of the rapid surge of Covid-19 cases in the state. The trading activities were in an extremely low key.
As per the Rubber Market Intelligence Report released by the Association of Natural Rubber Producing Countries (ANRPC), the second wave of Covid-19 has trimmed the outlook on the demand for NR from India. However, the lower NR demand from India could be offset by the higher consumption expected in China, US, and Europe ridden by the rapid economic recovery following the excellent progress achieved in the vaccination drive.
RSS4 was quoted unchanged at ₹169.00 per kg by traders and the Rubber Board. The grade finished flat at ₹164.00 per kg according to Dealers.
In futures, the May delivery was down 1.16 per cent from Thursday’s settlement price to close at ₹171.41 per kg with a volume of 27 lots on the Multi Commodity Exchange (MCX).
RSS 3 (spot) flared up to ₹174.65 (172.21) per kg at Bangkok. SMR 20 improved to ₹130.28 (127.48) and Latex to ₹117.58 (117.44) per kg at Kualalumpur.
The most active natural rubber contract for September delivery was up 175 Yuan (₹1993.96) from previous day’s settlement price to close at 14,470 Yuan (₹164,853.92) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg) were: RSS4:169.00 (169.00); RSS5: 166.00 (166.00); ISNR20: 150.00 (150.00) and Latex (60 per cent drc): 121.50 (121.50).