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Spot rubber continued to remain neutral on Wednesday. RSS4 closed unchanged at ₹166.50 per kg according to traders and the rubber board.
The grade was quoted steady at ₹161.50 per kg by dealers. The transactions were in a low key as major consuming industries preferred to sideline the market, probably waiting for an improvement in arrivals.
Despite the constraints caused by the spike in Covid-19 cases in major producing countries, the global supply of NR improved in June 2021 compared to May 2021 and April 2021, mainly due to the seasonal factor, reports Association of Natural Rubber Producing Countries (ANRPC). As per preliminary estimate, the global supply in June is up 8.8 per cent over May 2021 and up 23.2 per cent over April 2021 as farmers resumed tapping following the annual wintering of rubber trees.
In fact, the global demand for NR could not gain pace as expected during June. Preliminary estimates reveal that the quantities globally consumed during June 2021 and during May 2021 were lower compared to April 2021 largely due to the slack demand from China
In domestic futures, the July delivery lost 0.50 per cent from Tuesday’s settlement price to close at ₹168.40 per kg with a volume of 47 lots on the Multi Commodity Exchange (MCX).
RSS 3 (spot) surrendered to ₹140.50 (142.22) per kg at Bangkok. SMR 20 slid to ₹121.64 (121.71) and Latex to ₹90.05 (91.14) per kg at Kualalumpur.
The natural rubber contract for the September delivery was up 155 Yuan (₹1,789.92) from previous day’s settlement price to close at 13,415 Yuan (₹154,915.49) a tonne with a volume of 551,072 lots in day time trading on Shanghai Futures Exchange (ShFE).
The most active December futures was down 0.63 per cent to close at 219.5 Yen (₹147.98) per kg with a volume of 342 lots on the Osaka Exchange, Japan.
Spot rubber rates (₹/kg) were: RSS4:166.50 (166.50); RSS5: 163.50(163.50); ISNR20: 153.00 (153.00) and Latex (60 per cent drc): 124.50 (123.50).
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