Commodities

Bullish global prices hold spot rubber firm

Aravindan Kottayam | Updated on August 28, 2020

Spot rubber ended firm on Friday. Sentiments were catalysed by the sustained gains in global rubber prices. The market seemed to be expecting major consuming industries to procure the raw material from the local markets as it is not commercially viable for them to import rubber in the present scenario.

RSS-4 improved to ₹135 (134) per kg, according to traders and the Rubber Board. The grade was quoted firm at ₹131 (130) by dealers. The widening gap between the domestic and Bangkok spot prices is expected to put further pressure on the tyre companies when the markets resume trading after the Onam holidays.

In futures, the commodity remained totally inactive with no recorded trades on the Indian Commodity Exchange (ICEX).

RSS-3 (spot) improved to ₹142.28 (139.14) per kg at Bangkok. SMR-20 weakened to ₹100.82 (101.40) and Latex 60% to ₹85.41 (85.79) a kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS-4:135 (134); RSS-5: 131 (129); ISNR-20: 109(108.50) and Latex (60% drc): 76 (76).

Published on August 28, 2020

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