Buyer resistance, profit-booking sap rubber

Kottayam | Updated on April 09, 2021

Spot rubber ended in red following a sharp decline in domestic futures on Friday. An alarming increase in Covid-19 cases in the country and weak global cues kept the sentiments under pressure during the day.

The market opened steady but lost the initial strength later on buyer resistance coupled with profit booking at higher levels. Certain dealers sold sheet rubber even at lower levels, fearing further fall in prices, an observer said.

RSS 4 weakened to ₹170 (171) per kg, according to traders and the Rubber Board. The grade dropped to ₹165 (166), said dealers.

In futures, the April delivery was down 1.34 per cent from Thursday’s settlement price to close at ₹165.80 per kg with a volume of 72 lots on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for September delivery was down 350 Yuan (₹3987.94) from previous day’s settlement price to close at 13,775 Yuan (₹156,962.06) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) surrendered to ₹161.67 (164.33) per kg at Bangkok. SMR 20 declined to ₹121.56 (125.37) and Latex to ₹116.31 (117.40) at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:170 (171); RSS 5: 167 (168.50); ISNR20: 149.50 (150) and Latex (60% drc): 128 (129).

Certificate course

The Rubber Board is conducting a three-day certificate course in testing of Dry Rubber Content (DRC), at Rubber Training Institute, Kottayam from April 20. According to a press release issued by the Board, the course offer job opportunities as DRC Technicians in Rubber Board Companies, Latex Processing Centres, Rubber Producers' Societies, etc.

The course would also benefit growers and persons working in the area of latex processing. Those who studied chemistry as a subject at Plus Two or Degree level are eligible to join the course. Fee for the course is ₹3,000.00 (18% GST and 1% flood cess extra). SC/ST candidates will get 50 % concession in fee on presentation of caste certificate. RPS members will be given 25% concession in fee on production of membership certificate. Rubber Training Institute will provide boarding and lodging facility at prescribed rates.

Interested persons can use the link to register for the course. For further details, contact phone: 0481-2353127, 7306464582 or WhatsApp 04812353325.

Published on April 09, 2021

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