Commodities

Rubber stays unchanged

Aravindan Kottayam | Updated on September 24, 2020 Published on September 24, 2020

Spot rubber finished flat on Thursday. Increasing number of Covid-19 cases in the State and the absence of genuine buyers continued to weigh on the local sentiments but the market managed to sustain at the prevailing levels on acute short supplies.

RSS-4 closed unchanged at ₹133 a kg consecutively for the ninth day, according to traders and the Rubber Board. The grade was quoted steady at ₹129 per kg by dealers.

The International Tripartite Rubber Council (ITRC) expects a decrease in the production of NR for the rest of 2020 and further decline into early 2021. The decline is attributed to erratic weather, slowdown in tapping activities due to Covid-19 pandemic and Pestalotiopsis leaf fall disease.

Natural rubber futures improved in day time trading on the Shanghai Futures Exchange (ShFE). The near month October delivery was up by 95 yuan (₹1027.80) to close at 11,570 yuan (₹125,171.80) a tonne.

RSS-3 (spot) declined to ₹143.06 (144.14) per kg at Bangkok. SMR-20 firmed up to ₹99.44 (98.61) and Latex 60% to ₹87.70 (87.52) at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS-4:133 (133); RSS-5: 129 (129); ISNR-20: 108.50 (108.50) and Latex (60% drc): 77 (77).

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Published on September 24, 2020
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