Covering buys lift rubber

Our Correspondent Kottayam | Updated on October 19, 2020 Published on October 19, 2020

Spot rubber hit its first predicted target on Monday. RSS-4 improved to ₹140 (138) per kg, according to traders and the Rubber Board. The grade firmed up to ₹136 (134) as quoted by the dealers.

The market resumed its upward journey mainly on covering purchases at lower levels. “We expect major consuming industries to re-enter the market with revised quotes in the days ahead,” a trader said.

RSS-3 (spot) flared to ₹156.40 (153.41) per kg at Bangkok. SMR-20 improved to ₹113.05 (111.32) and Latex 60% to ₹100.37 (97.11) per kg at Kuala Lumpur.

Natural rubber futures closed higher in day time trading on Shanghai Futures Exchange (ShFE). The most active January 2021 delivery was up by 515 Yuan (₹5647.92) to close at 140,75 Yuan (₹154,347.25) a tonne.

Spot rubber rates (₹/kg): RSS-4:140 (138); RSS-5: 136 (134); ISNR-20: 114 (112) and Latex (60% drc): 86.50 (83.50).

Call centre

According to a press release issued by the Rubber Board, rubber growers and those involved in rubber sheet and latex processing can contact Board Call Centre to know more about rubber sheet processing. MN Biju, Assistant Quality Control Officer, Rubber Board, will answer the queries on October 21 from 10.00 am to 1.00 pm. The Call Centre Number is 0481 - 2576622.

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Published on October 19, 2020
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