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Spot rubber continued to remain neutral with an upward bias on Tuesday. RSS 4 was quoted unchanged at ₹174.00 per kg by traders. The grade improved to ₹174 (173.50) per kg according to the Rubber Board. The stalemate continued as most trades preferred to sideline the market with only a few days left for the current financial year to end. “We do believe that the lean production season and steady increase in domestic demand along with the rising crude oil prices and import hurdles could propel prices to ₹180 -190 levels during the new financial year”, analysts said. In futures, the most active April contracts were up 0.36 percent from Monday’s settlement price to close at ₹175.68 per kg with a volume of 16 lots on the Multi Commodity Exchange (MCX). . RSS3 (spot) weakened to ₹172.49 (172.76) per kg at Bangkok. SMR20 firmed up to ₹131.62 (131.10) and Latex to ₹123.26 (121.63) per kg at Kualalumpur. The natural rubber contract for the May 2022 delivery was down 0.26 percent from previous day’s settlement price to close at 13.36 Yuan (₹159.47) per kg with a volume of 115,197 lots in daytime trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg) were: RSS4: 174.00 (174.00), RSS5: 172.00 (172.00), ISNR20: 164.00 (164.00) and Latex (60% drc): 122.50 (122.50)
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