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Spot rubber continued to remain neutral on Wednesday. RSS-4 closed unchanged at ₹133 a kg, according to traders and the Rubber Board. The grade was steady at ₹129 a kg by dealers.
Meanwhile, ISNR-20 and Latex lost further amidst dull volumes but the losses were limited on supply concerns.
The growth of the automobile industry and the demand for natural rubber are very closely related, as almost 75 per cent of rubber produced in the world is used for the production of tyres. According to the Association of Natural Rubber Producing Countries (ANRPC), sales of new passenger vehicles in India increased 20 per cent y-o-y in August 2020, the highest growth in the last 26 months.
RSS-3 (spot) improved to ₹141.11 (139.86) per kg at Bangkok. The most active January 2021 delivery was up by 100 Yuan (₹1,088.16) to close at 12,475 Yuan (₹135,747.50) a tonne on the Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS-4 133 (133); RSS-5 127.50 (127.50); ISNR 20 108 (108.50) and Latex (60% drc) 76.50 (77).
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