Agri Business

Spot rubber remain unchanged

Aravindan Kottayam | Updated on June 24, 2021

Sharp decline in volumes

Spot rubber closed unchanged on Thursday. Though the arrivals showed no improvement till date, the low availability did not drive prices up as a slow down in demand kept them neutral despite a moderate recovery in overseas indices.

RSS4 was quoted steady at ₹169.00 per kg by traders and the Rubber Board. The grade finished flat at ₹164.00 per kg according to Dealers. The market continued to remain a tight range throughout the session and ended in a stalemate consecutively for the third day with a sharp decline in volumes.

In futures, the front month June delivery was down 0.74 per cent from Wednesday’s settlement price to close at ₹166.10 per kg with a volume of 12 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the September delivery was up 180 Yuan (₹2064.87) from previous day’s settlement price to close at 13,010 Yuan (₹149,251.20) a tonne with a volume of 350,064 lots in day time trading on Shanghai Futures Exchange (ShFE).

The November futures for RSS3 gained 1.45 per cent to close at 237.5 Yen (₹159.00) per kg with a volume of 927 lots on the Osaka Exchange, Japan.

RSS 3 (spot) inched up to ₹152.72 (152.66) per kg at Bangkok. SMR 20 improved to ₹123.46 (122.94) and Latex to ₹99.86 (99.44) per kg at Kualalumpur.

Spot rubber rates (₹/kg) were: RSS4:169.00 (169.00); RSS5: 167.00 (166.50); ISNR20: 156.50 (156.50) and Latex (60 per cent drc): 119.50 (119.50).

Published on June 24, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like