Commodities

Lack of buying from tyre sector saps rubber

Aravindan Kottayam | Updated on August 19, 2020

Spot rubber declined further on Wednesday. There were no fresh enquiries from the tyre sector and they appeared to be comfortable with their stockpile for the time being.

The domestic price closed below the Bangkok spot price of its equivalent RSS-3 for the first time in 2020.

RSS-4 weakened to ₹130 (131) per kg, according to traders and the Rubber Board. The grade slid to ₹126 (127) as reported by dealers. There was no selling pressure in the market even at lower levels.

In futures, the September contracts dropped to ₹129.15 (130.78) per kg on the Indian Commodity Exchange (ICEX). The contracts were down by 1.25 per cent with a volume of 7 lots and total trade value of ₹9.04 lakh.

RSS-3 (spot) improved to ₹130.62 (129.83) per kg at Bangkok. SMR-20 firmed up to ₹98.57 (98.40) and Latex 60% to ₹85.45 (85.06) at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS-4:130 (131); RSS-5: 125 (127); ISNR-20: 109 (110) and Latex (60% drc): 78 (78.75).

Published on August 19, 2020

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