Commodities

Purchases by tyre companies lift rubber

Our Correspondent Kottayam | Updated on August 05, 2021

Prices rule steady; no improvement in arrivals

Spot rubber downed the shutters in a positive mood on Thursday. RSS-4 continued to remain steady at ₹173 per kg with an upward bias after hitting an intra-day high of ₹174 a kg, said traders.

The grade firmed up to ₹173 (172.50) and ₹168 (167.50) respectively, according to the Rubber Board and dealers.

Certain tyre-makers were buyers on RSS-4 Plus up to ₹175 a kg during the latter half of the session. Most traders were aware of a steady rise in domestic demand and they were unwilling to unwind their stocks even at higher levels. There was no improvement in arrivals as expected earlier.

The most active August delivery was up 0.75 per cent from Wednesday’s settlement price to close at ₹176.94 per kg with a volume of 23 lots on the Multi Commodity Exchange (MCX).

RSS-3 (spot) firmed up to ₹136.40 (135.90) per kg at Bangkok. SMR 20 weakened to ₹125.76 (126.79) and Latex to ₹90.88 (91.16) per kg at Kuala Lumpur.

The natural rubber contract for the September delivery was down 0.19 per cent from previous day’s settlement price to close at 13,385 Yuan (₹153,552.25) a tonne with a volume of 240,116 lots in day time trading on Shanghai Futures Exchange (ShFE).

The forward January 2022 delivery was up 0.14 per cent from last day’s settlement price and closed at ¥217.3 (₹147.19) per kg with a volume of 175 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) were RSS-4:173 (173); RSS-5: 171 (170.50); ISNR 20: 160 (160) and Latex (60% drc): 129 (129).

Published on August 05, 2021

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