Spot rubber ends unchanged

Our Correspondent Kottayam | Updated on September 06, 2021

Major consuming industries kept a low profile since the arrivals continued to remain low

Spot rubber closed unchanged on Monday. The market ended the day in a stalemate as major consuming industries were unwilling to buy above Friday's closing price of Rs.178.50 a kg for RSS4. They also kept a very low profile since the arrivals continued to remain low.

According the Association of Natural Rubber Producing Countries (ANRPC), NR prices tumbled during the second half of August in Southeast Asia. Physical prices of TSR, the most popular traded form representing nearly 70 per cent of the global trade in NR, fell 4.1 per cent in Bangkok and 5.5 per cent in Kuala Lumpur between 13 and 31 August.

However, the Southeast Asian physical markets of RSS and latex resisted the fall to an extent even in the midst of those downswings. The RSS market in India emerged as a bright spot by rising 3.0per cent, catalysed by favourable domestic factors.

RSS4 was quoted steady at Rs.178.50 and Rs.179.00 per kg respectively by traders and the Rubber Board. The grade finished flat at Rs.174.00 per kg, said Dealers. The trend was mixed as RSS5 lost ground and latex improved amidst scattered transactions.

In futures, the most active September delivery recovered 0.17 percent from Friday's settlement price to close at Rs.177.73 per kg with a volume of 28 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the September delivery was up 1.04 percent from previous day's settlement price to close at 12.94 Yuan (Rs.146.39) a kg with a volume of 1,635 lots in day time trading on Shanghai Futures Exchange (ShFE).

RSS3 (spot) dropped to Rs.135.56 (136.63) per kg at Bangkok. SMR20 firmed up to Rs.120.59 (119.35) while Latex slid to Rs.89.48 (89.85) per kg at Kualalumpur.

The front month September delivery was up 0.10 per cent from last days settlement price to close at 195.00 Yen (Rs.129.78) per kg with a volume of 30 lots on the Osaka Exchange, Japan.

Spot rubber rates (Rs/kg) were: RSS4:178.50 (178.50); RSS5: 177.00 (177.50); ISNR20: 168.50 (168.50) and Latex (60per cent drc): 128.50 (128.00).

Published on September 06, 2021

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