Commodities

Spot rubber ends flat

Our Correspondent Kottayam | Updated on May 21, 2020

Spot rubber finished flat on Thursday. RSS 4 closed unchanged at ₹114 and ₹115 per kg respectively, according to traders and the Rubber Board. The trend was partially mixed as Latex improved on fresh enquiries from the general rubber goods sector. .

“We expect tyre companies to join the buyers’ queue soon since they have to procure the raw material before the hard days of the rainy season,” a dealer said. “But they seem to be hesitant to enlarge their commitments probably due to the uncertainty prevailing in the market and economy. Actually, the sudden fall in tyre demand during the lockdown has nullified the benefits of a sharp decline in natural rubber prices as far as tyre companies are concerned,” he added.

In futures, June contracts improved to ₹113.94 (112.06) and July to ₹114.38 (113.50) per kg on the Indian Commodity Exchange (ICEX). The near month July was up by 1.68% with a volume of 81 lots and total trade value of ₹91.90 Lakhs..

RSS 3 (spot) slid to ₹105.74 (105.86) per kg at Bangkok. .Its May futures weakened to ₹98.53 (99.60) and June to Rs.100.78 (101.08) per kg on the Tokyo Commodity Exchange (TOCOM). SMR20 dropped to ₹84.93 (84.97) but Latex 60% improved to ₹78.39 (78.23) 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): 80.00 (77.50).

Published on May 21, 2020

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