Commodities

Industry buying lifts rubber

Our Correspondent Kottayam | Updated on October 22, 2020 Published on October 22, 2020

Spot rubber ended in green on Thursday. The commodity continued to remain strong in the positive zone as certain major consuming industries procured the raw material at the prevailing levels.

RSS-4 was quoted sharply higher at ₹146 (144) per kg by traders and the Rubber Board. The grade firmed up to ₹142 (140), according to dealers.

Speculative investors across globe are often sensitive even to the small changes in the officially reported deliverable inventory held at the designated warehouses of the Shanghai Exchange (ShFE).

According to the Association of Natural Rubber Producing Countries (ANRPC), the total inventory of natural rubber held in the designated warehouses of the Shanghai Exchange remains low compared to the usual level. The total deliverable inventory of SCR-WF (Standard China Rubber-Whole Field) and RSS grades of NR held as on September 30 was 283,792 tonnes as against the inventory of 455,259 tonnes held at the same point of time in the previous year.

RSS-3 (spot) improved to ₹165.55 (162.60) per kg at Bangkok. SMR 20 weakened to ₹119.24 (120.04), while Latex 60% firmed up to ₹115.64 (112.74) per kg at Kuala Lumpur.

Natural rubber futures closed higher in day time trading on ShFE. The most active January 2021 delivery was up by ₹551.21 to close at ₹163,818.34 a tonne.

Spot rubber rates (₹/kg): RSS-4:146 (144); RSS-5: 142 (140); ISNR-20: 120(117) and Latex (60% drc): 97 (92).

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Published on October 22, 2020
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