Commodities

Rubber gains as growers retain their stock

Our Correspondent Kottayam | Updated on February 18, 2021

Spot rubber continued to rule higher on Wednesday.

“We expect sheet rubber to cross 160 soon since the majority of growers are not interested to sell their produce at the prevailing levels,” a dealer said. There is less chance for a selling pressure below ₹170, the minimum support price for rubber in the State, he added.

RSS 4 improved to ₹157 (156) per kg, according to traders and the Rubber Board. The grade firmed up to ₹153 (152) per kg as quoted by the dealers. The trend was partially mixed as ISNR20 finished flat amidst scattered transactions.

In futures, the natural rubber contract for February delivery improved by 1.77% from Tuesday’s settlement price to ₹161.89 (159.08) per kg for RSS 4 on the Multi Commodity Exchange (MCX).

RSS 3 (spot) flared up to ₹167.80 (165.03) per kg at Bangkok. SMR 20 improved to ₹121.34 (119.25) and Latex to ₹104.80 (104.18) per kg at Kuala Lumpur. The Shanghai Futures Exchange (ShFE) will resume trading on Thursday after the Chinese New Year holidays.

Spot rubber rates (₹/kg): RSS 4:157 (156); RSS 5: 152 (151); ISNR20: 142.50 (142.50) and Latex (60% drc): 115.50 (114.50).

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

Published on February 18, 2021
rubber (commodity)
commodities market
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

Related

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.