Commodities

Dip in arrivals, higher oil prices lift rubber

Our Correspondent Kottayam | Updated on February 23, 2021

Spot rubber ended in green on Tuesday. RSS 4 improved to ₹160.50 (160) per kg, according to traders and the Rubber Board. The grade was quoted marginally higher at ₹156.50 (156) by dealers.

As per observers, sentiments were driven by the steady decline in domestic arrivals, sustained gains in overseas markets and rise in oil prices.

In futures, the natural rubber contract for February delivery firmed up from Monday’s settlement price to ₹163.50 (162.71) per kg on the Multi Commodity Exchange (MCX).

RSS 3 (spot) improved to ₹177.88 (174.84) per kg at Bangkok. SMR 20 firmed up to ₹131.03 (128.99) and Latex to ₹114.82 (111.31) at Kuala Lumpur.

The most active natural rubber contract for May delivery was up 125 Yuan (₹1,401.93) from previous day’s settlement price to close at 16,020 Yuan (₹179,683.44) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS 4:160.50 (160); RSS 5: 155.50 (155); ISNR20: 148 (146) and Latex (60% drc): 122.50 (121).

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Published on February 23, 2021
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