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Spot rubber remained unchanged on Wednesday. RSS 4 declined to ₹115 (116) per kg, according to the Rubber Board. It finished flat at ₹114.00 per kg as reported by the traders.
According to reports, the world consumption of NR is expected to be slightly better during May over April. While the consumption fell in April by 23.1%, year-on-year, the decline anticipated in May is 10.1% only. Moreover, the consumption is anticipated to increase in June by 0.4%, year-over-year. The improving outlook on the world consumption is definitely a favourable factor for Rubber.
In futures, June contracts improved to ₹112.06 (111.73) per kg on the Indian Commodity Exchange (ICEX). The contracts were up by 0.30% with a volume of 61 lots and total trade value of ₹68.27 Lakhs..
RSS 3 (spot) improved to ₹105.86 (104.93) per kg at Bangkok. .Its May futures firmed up to ₹99.60 (98.45) and June to ₹101.08 (99.65) per kg on the Tokyo Commodity Exchange (TOCOM). SMR20 improved to ₹84.97 (83.91) and Latex 60% to ₹78.23 (77.19) per kg at Kualalumpur.
Spot rubber rates (₹/kg) follow: RSS-4: 114.00 (114.00); RSS-5: 108.00 (108.00); ISNR 20: 106.00 (106.00) and Latex (60% drc): 77.50 (77.50).
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