Holiday mood in market keeps spot rubber flat

Our Correspondent Kottayam | Updated on April 05, 2021

Spot rubber closed unchanged on Monday. The market ended in a stalemate as most traders continued to remain in a holiday mood even after Easter since Kerala Assembly elections will be held in a single phase on April 6.

Another firm closing in domestic futures also failed to make any visible impact in the physical market. “The commodity is expected to remain range-bound with an upward bias this week as major consuming industries are likely to maintain a wait and watch policy during the initial days of the new financial year,” analysts said.

RSS 4 was quoted steady at ₹170.50 per kg by traders and the Rubber Board. The grade finished flat at ₹165.50 as per dealers. The volumes were extremely low in an almost inactive trading session.

In futures, the near month April delivery was up 0.94% from previous day’s settlement price to close at ₹173.25 per kg with a volume of 50 lots on the Multi Commodity Exchange (MCX).

RSS 3 (spot) improved to ₹163.34 (162.92) per kg at Bangkok. SMR 20 firmed up to ₹122.54 (121.03), while Latex slid to ₹117.68 (117.88) at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:170.50 (170.50); RSS 5: 168 (168); ISNR 20: 155.50 (155.50) and Latex (60% drc): 128 (128).

Published on April 05, 2021

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