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Spot rubber continued the bull run despite a weak closing in overseas markets on Tuesday. The commodity managed to break above the much awaited 170 level on fresh buying and short covering during late trading hours. “It was important for the market to sustain above the Minimum Support Price to move towards a new high,” an observer told BusinessLine.
RSS 4 improved to ₹171 (170) per kg, according to traders and the Rubber Board. The grade was quoted firm at ₹166 (165) by dealers.
In futures, the March delivery was up 0.75% from Monday’s settlement price to close at ₹172.30 a kg on the Multi Commodity Exchange (MCX).
RSS 3 (spot) weakened to ₹171.58 (172.01) per kg at Bangkok. SMR 20 slid to ₹130.72 (130.80) and Latex to ₹124.25 (124.87) per kg at Kuala Lumpur.
The most active natural rubber contract for May delivery was down 30 Yuan (₹334.78) from previous day’s settlement price to close at 15,150 Yuan (₹169,066.05) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS 4:171 (170); RSS 5: 168 (166); ISNR20: 151 (150.50) and Latex (60% drc): 129.50 (128.50).
Research fellowship
Rubber Research Institute of India (RRII) proposes to engage two ‘Junior Research Fellows’ and a ‘Senior Research Fellow’ under industrial research fellowship scheme of Advanced Centre for Rubber Technology on consolidated remuneration, through a written test / walk-in-interview or both.
According to a press release issued by the Board, candidates for Junior Research Fellows must hold a Master’s degree in Chemistry/Polymer Chemistry/Organic Chemistry or B.Tech in Polymer Science/ Rubber Technology and candidates for Senior Research Fellow must hold Ph.D in Rubber Chemistry/Technology/Polymer Chemistry and Technology/Organic Chemistry. Age should not exceed 32 years for Junior Research Fellow and 40 years for Senior Research Fellow, as on March 1, 2021.
Interested candidates may send their application to the Assistant Secretary (Research), Rubber Research Institute of India, Rubber Board, Kottayam-9. For further details visit www.rubberboard.gov.in
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