Commodities

Spot rubber ends on a weak note

Kottayam | Updated on August 31, 2021

RSS4 weakened to ₹180.50 per kg, says traders

Spot rubber ended in a weak note on Tuesday. The commodity lost the initial strength after a steady opening on buyer resistance. Reports on the possibility of a favourable change in weather have revived the chances of an intensified tapping in major plantation areas. A subsequent improvement in arrivals and selling pressure from growers are expected since then, because the prices are ruling high.

RSS4 weakened to ₹180.50 (181.00) per kg according to traders. The grade was quoted steady at ₹180.50 and ₹175.50 per kg respectively by the Rubber Board and Dealers. The trend continued to be mixed as the remaining counters closed unchanged in a comparatively dull trading session.

Closing prices

In futures, the August delivery was up 1.51 percent from Monday’s settlement price to expire at ₹185.00 a kg with a volume of four lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the September delivery was down 0.51 percent from previous day’s settlement price to close at 12,865 yuan (₹145,336.74) a tonne with a volume of 11,204 lots in day time trading on Shanghai Futures Exchange (ShFE).

RSS3 (spot) dropped to ₹137.13 (138.21) per kg at Bangkok. The near month September delivery lost 0.72 percent from last day’s settlement price to close at 193.4 yen (₹128.49) per kg with a volume of 29 lots on the Osaka Exchange, Japan.

Spot rubber rates (Rs/kg) were: RSS4:180.50 (181.00); RSS5: 178.50 (178.50); ISNR20: 168.00 (168.00) and Latex (60% drc): 129.00 (129.00).

Online training

The National Institute for Rubber Training (NIRT) under the Rubber Board is organising an online training programme in entrepreneurship development in the rubber sector on September 3, 2021 from 10 am to 1 pm. The training focusses on investment scope in Ribbed Smoked Sheet (RSS) processing sector, latex and dry rubber products manufacture etc.

Published on August 31, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like