Comments
Physical rubber prices were steady on Monday. RSS4 finished flat at ₹134.00 a kg, according to traders and the Rubber Board. The grade was quoted unchanged at ₹130.00 a kg by Dealers. The trend was partially mixed as ISNR 20 improved marginally on enquiries from the non-tyre sector.
According to the Association of Natural Rubber Producing Countries (ANRPC), prices of NR moved along a recovery path during July with the notable exception of latex market. Despite the concerns about a possible second wave of Covid 19 pandemic and deteriorating US-China diplomatic relation, NR prices have the potential to move along the marginal recovery path supported by a host of factors, which include the anticipated marginal improvement in the world consumption, global production constraints and physical availability of NR, continued weakness in the US dollar, and support from the crude oil market.
In futures, the August contracts declined to ₹134.01 (135.94) while the September contracts improved to ₹133.00 (132.50) per kg on the Indian Commodity Exchange (ICEX). The August contracts were down by 1.42% with a volume of 3 lots and total trade value of ₹4.02 Lakh.
RSS 3 (spot) improved to ₹125.99 (124.49) per kg at Bangkok. SMR 20 slid to ₹99.20 (99.93) and Latex 60% to ₹85.40 (85.73) per kg at Kuala Lumpur.
Spot rubber rates (₹/kg) were: RSS4: ₹134.00 (134.00); RSS5: ₹131.00 (131.00); ISNR20: ₹111.00 (110.50) and Latex (60% drc): ₹80.00 (80.00).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.