Commodities

Shortage of raw material keeps spot rubber flat

Our Correspondent Kottayam | Updated on August 16, 2021

ISNR 20 improved on fresh enquiries from the tyre and non-tyre sectors

Spot rubber closed unchanged on Monday. The market continued to suffer from an acute shortage of the raw material and it was even difficult to find out a quantity seller at higher levels.

“The commodity may fall in to a corrective phase, if it fails to close and sustain above ₹180 level which is a strong long term resistance for rubber,” an analyst said.

RSS-4 finished flat at ₹178 per kg after hitting an intra-day high of ₹179 as reported by the traders. The grade ended in a steady note at ₹177.50 and ₹172.50 per kg respectively, according to the Rubber Board and Dealers. The trend was partially mixed as ISNR 20 improved on fresh enquiries from the tyre and non-tyre sectors but the overall volumes continued to remain low.

The most active August delivery was down 0.4 per cent from Friday’s settlement price to close at ₹180.93 per kg with a volume of 26 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the September delivery was up 0.22 per cent from previous day’s settlement price to close at 13,555 Yuan (₹155,261.04) a tonne with a volume of 65,707 lots in day time trading on Shanghai Futures Exchange (ShFE).

RSS-3 (spot) improved to ₹141.09 (139.63) per kg at Bangkok. SMR 20 firmed up to ₹131.10 (129.96) but Latex slid to ₹94.05 (94.21) per kg at Kuala Lumpur.

The forward January 2022 delivery was up 0.54 per cent from Friday’s settlement price to close at ¥222.1 (₹150.65) per kg with a volume of 168 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) were: RSS-4:178 (178); RSS-5: 176 (176); ISNR20: 164.50 (164) and Latex (60% drc): 130 (130).

Published on August 16, 2021

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