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Spot rubber was quoted unchanged with an upward bias on Tuesday. RSS4 finished flat at ₹168.00 and ₹167.50 per kg respectively according to traders and the Rubber Board. The market opened weak following the decline in global trendsetters mainly TOCOM during early trades but managed to sustain at Monday's levels following the enquiries from the tyre sector.
A leading tyre-maker bought RSS4 at the Rubber Board rate for immediate cash but they could not procure the desired quantity owing to short supplies. The trend was partially mixed as latex improved further on sustained demand but the overall volumes were low
In futures, the most active March contracts were down 0.09 percent from last day's settlement price to close at ₹167.85 per kg with a volume of 11 lots on the Multi Commodity Exchange (MCX).
RSS3 (spot) weakened to ₹170.33 (171.18) per kg at Bangkok. SMR20 firmed up to ₹135.39 (133.35) and Latex to ₹132.30 (131.83) per kg at Kualalumpur.
The natural rubber contract for the May 2022 delivery was down 100 Yuan (0.73 percent) from previous day's settlement price to close at 13.64 Yuan (₹166.09) per kg with a volume of 268,893 lots in daytime trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (Rs/kg) were: RSS4: 168.00 (168.00), RSS5: 166.00 (166.00), ISNR20: 160.00 (160.00) and Latex (60% drc): 121.50 (120.50)
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