Rubber stretches gains on lower arrivals

Aravindan Kottayam | Updated on June 01, 2020 Published on June 01, 2020

Spot rubber managed to finish in green on Monday. RSS-4 improved further to ₹118 (117) a kg, according to traders and the Rubber Board. The inflow of the raw material continued to remain low.

Per reports, there were no enquiries from the tyre sector and most dealers were unwilling to buy sheet rubber above ₹115 fearing further fall in prices. “We are already sitting on unsold stocks because of the nation-wide lockdown,” a dealer said.

In futures, the June contracts firmed up to ₹121.13 (120.26) and July to ₹122.63 (120.23) on the Indian Commodity Exchange (ICEX). The June contracts were up by 0.72 per cent with a volume of 84 lots and a total traded value of ₹101.66 lakh.

RSS-3 (spot) improved to ₹108.51 (108) per kg at Bangkok. Its June futures declined to ₹94.67 (96.52) and July to ₹100.35 (100.74) on the Tokyo Commodity Exchange. SMR20 firmed up to ₹85.86 (83.86) and Latex 60% to ₹80.81 (79.53) a kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS-4: 118 (117); RSS-5: 113 (111); ISNR 20: 103 (103) and Latex (60% drc): 83 (82.50).

Published on June 01, 2020
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