Agri Business

Spot rubber prices remain unchanged

Aravindan Kottayam June 17 | Updated on June 17, 2021

The transactions were in an extremely low key since there were no quantity sellers or buyers

Spot rubber closed unchanged on Thursday. RSS4 continued to rule steady at ₹170.00 per kg as reported by traders and the Rubber Board.

The grade finished flat at ₹165.00 per kg according to dealers. The transactions were in an extremely low key since there were no quantity sellers or buyers in the local trading houses to set a definite trend in the market.

“We expect the commodity to remain firm in the days ahead reacting closely to the Government’s decision to unwind the lockdown restrictions gradually and cautiously with effect from 17 June,” a grower told BusinessLine.

The June delivery was down 0.41 per cent from Wednesday’s settlement price to close at ₹168.94 per kg with a volume of 44 lots on the Multi Commodity Exchange (MCX).

Despite the solid post-pandemic recovery led by China and United States, managing pandemic with low infection rate is still the key for a smooth and successful recovery for all countries. The broken records of daily infection cases in some ASEAN countries may also have an indirect impact on the global rubber economy, reports said.

RSS 3 (spot) dropped to ₹155.55 (156.67) per kg at Bangkok. SMR 20 weakened to ₹119.01 (119.51) and Latex to ₹100.89 (101.15) per kg at Kualalumpur.

The natural rubber contract for the September delivery was up 25 Yuan (₹288.04) from previous day’s settlement price to close at 12,780 Yuan (₹147,218.47) a tonne with a volume of 401,467 lots in day time trading on Shanghai Futures Exchange (ShFE).

The most active November futures for RSS3 improved by 0.42 per cent to close at 236.5 Yen (₹158.51) per kg with a volume of 137 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) were: RSS4:170.00 (170.00); RSS5: 168.00 (168.00); ISNR20: 157.00 (157.00) and Latex (60% drc): 122.50 (122.50).

Published on June 17, 2021

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