Commodities

Mixed trend in spot rubber

Aravindan | Updated on November 07, 2019 Published on November 07, 2019

Spot rubber returned to a mixed mood on Thursday. RSS 4 firmed up to Rs 126.50 (126)  and Rs 125.50 (125) per kg respectively according to traders and the Rubber Board. The grade improved to Rs 121.50 (121) per kg as reported by the dealers.

There were no quantity sellers in the local trading houses and the market seemed to be suffering from acute short supplies. Moderate enquiries from the tyre manufacturers kept sheet rubber in green while Latex closed weak on extremely low demand.

The November futures inched up to Rs 127.32 (127) while the December futures slid to Rs 128.42 (128.54) per kg on the Indian Commodity Exchange (ICEX).

The International Tripartite Rubber Council (ITRC) member countries are on high alert due to the rapid spreading of 'Pestalotiopsis' in Thailand and the possibility of the disease spreading to the southern part of the country.

The Rubber Authority of Thailand (RAOT) is currently implementing various efforts to contain the spread with the assistance of the International Rubber Research Development Board (IRRDB). The Malaysian Rubber Board (MRB) has carried out disease advisories, trainings and spraying demonstration on how to identify and control the disease by fungicide application.

RSS 3 (spot) improved to Rs 106.02 (105.89) per kg at Bangkok. Its November futures firmed up to Rs 103.36 (102.37), December to Rs 106.22 (105.56) and January to Rs 109.07 (108.16)  per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4126.50 (126)
RSS-5123.50 (123.50)
ISNR 20115 (115)
Lates (60% drc)92.50 (93)

 

Published on November 07, 2019
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