Commodities

Buyer resistance saps rubber

Our Correspondent Kottayam | Updated on March 01, 2021

Spot rubber closed lower on Monday. The commodity opened steady but lost the initial strength on buyer resistance and profit booking at higher levels, following the sharp declines in overseas markets and domestic futures on MCX. The trend was partially mixed as ISNR20 managed to close unchanged on better demand.

RSS 4 weakened to ₹160 (160.50) per kg, according to traders and the Rubber Board. The grade slid to ₹156 (156.50) as reported by dealers.

In futures, the natural rubber contract for March delivery dropped to ₹162.50 (163.01) per kg on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for May delivery was down 3.4%from previous day's settlement price to close at 15,902 Yuan (₹180,908.46) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) surrendered to ₹174.82 (179.90) per kg at Bangkok. SMR 20 declined to ₹128.55 (133.49), while Latex slid to ₹124.52 (124.53) a kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:160 (160.50); RSS 5: 155 (156); ISNR 20: 150 (150) and Latex (60% drc): 126 (126.50).

Training programme

The Rubber Board is organising a two-day training programme in rubber sheet processing and grading at Rubber Training Institute, Kottayam, on March 4 and 5. The training content includes latex collection, processing into sheet rubber, smoke houses, grading as per 'Green Book' standards, etc. Fee for the training is ₹1,000.00 (18% GST and 1% flood cess extra). According to a press release issued by the Board, the training would benefit rubber dealers, growers, processors and consumers.

The training will be conducted in strict adherence to Covid 19 protocol. For further details, contact 0481-2353127 or WhatsApp 04812353325. E-mail: training@rubberboard.org.in

Published on March 01, 2021

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