Rubber improves on bullish cues

Our Correspondent Kottayam | Updated on February 09, 2021 Published on February 09, 2021

Spot rubber made all-round gains on Tuesday. RSS 4 improved to ₹155 (154) per kg, according to traders and the Rubber Board. As per reports, the upward revision forecasts for 2021 released by the International Monetary Fund (IMF) recently have boosted the market confidence over the post-pandemic recovery. In addition, the positive sentiment in crude oil market may also be advantageous to the commodities market.

According to the Association of Natural Rubber Producing Countries (ANRPC), the average NR prices of SMR-20 improved by 0.6% to $1.58 per kg in January 2021 as compared to December 2020. In the rubber sheets market, prices of RSS-3 in Bangkok and RSS-4 Kottayam have registered a fall in price by 6.3% and 3.6%, respectively, during the same reference period.

In futures, RSS4 improved at its February delivery by 0.31% to ₹157.48 (157) per kg on the Multi Commodity Exchange (MCX).

RSS 3 (spot) improved to ₹159.07 (156.98) per kg at Bangkok. SMR 20 slid to ₹119.63 (119.66), while Latex firmed up to ₹103.37 (102.96) per kg at Kuala Lumpur.

The most active natural rubber contract for May delivery was up 25 Yuan (₹283.20) from previous day's settlement price to close at 14,855 Yuan (₹168,279.35) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS 4:155 (154); RSS 5: 151 (150); ISNR20: 140 (138) and Latex (60% drc): 111 (110).

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Published on February 09, 2021
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