Commodities

Mixed trend in spot rubber

Our Correspondent Kottayam | Updated on August 04, 2021

Buying by tyre companies and Kerala’s decision to ease Covid curb lifted the sentiment

Spot rubber was in a mixed mood with an upward bias on Wednesday. RSS-4 closed unchanged at ₹173 a kg, according to traders. The grade firmed up to ₹172.50 (172) and ₹167.50 (167) a kg, respectively, as per the Rubber Board and dealers.

The market indicator hit an intra-day high of ₹174 a kg as certain tyre companies were buyers on the same during the latter half of the session, said traders.

The Kerala Government’s decision to ease Covid-19 restrictions has added much cheer to the rubber community as a whole. Now there will be no lockdowns on Saturday allowing shops and other establishments to remain open till 9 pm for six days in a week. “We expect an improvement in arrivals for a couple of days following this change in the pandemic management strategy,” a dealer told BusinessLine.

The most active August delivery was up 0.59 per cent from Tuesday’s settlement price to close at ₹175.95 per kg with a volume of 27 lots on the Multi Commodity Exchange (MCX).

RSS-3 (spot) inched up to ₹135.90 (135.67) per kg at Bangkok. SMR 20 weakened to ₹126.79 (126.97), while latex improved to ₹91.16 (90.44) per kg at Kuala Lumpur.

The natural rubber contract for the September delivery was up 0.44 per cent from previous day’s settlement price to close at 13,505 Yuan (₹154,003.03) a tonne with a volume of 226,064 lots in day time trading on Shanghai Futures Exchange (ShFE).

The forward January 2022 delivery improved 0.09 per cent from last day’s settlement price and closed at ¥217.9 (₹148.19) per kg with a volume of 222 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg): RSS-4:173 (173); RSS-5: 170.50 (170); ISNR20: 160 (158.50) and Latex (60% drc): 129 (128).

Published on August 04, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like