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Spot rubber ended in a bullish note on Thursday. The market opened weak but recovered steadily tracking the sharp gains in overseas trendsetters, mainly Bangkok spot prices. RSS4 improved to ₹161 (160) per kg, according to traders and the Rubber Board. The grade firmed up to ₹157 (156) a kg as per dealers.
“We expect sheet rubber to cross ₹ 170 soon”, traders said. According to observers, certain tyre companies were buyers on the grade but they preferred to keep a low profile possibly to avoid a sharp rise in prices.
In futures, the natural rubber contract for February delivery closed higher at ₹164 (162) per kg on the Multi Commodity Exchange (MCX).
RSS 3 (spot) bounced back to ₹ 179.90 (175.81) per kg at Bangkok. SMR 20 flared up to ₹ 138.16 (129.61) and Latex to ₹ 123.57 (116.94) per kg at Kuala Lumpur.
The most active natural rubber contract for May delivery was up 5.6%from previous day’s settlement price to close at 16,955 Yuan (₹190,605.67) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS 4:161 (160); RSS 5: 156 (155); ISNR20: 150 (149) and Latex (60% drc): 125.50 (122.50).
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