Spot rubber continued to explore further highs on Monday. RSS4 concluded the session at ₹177.00 (175.00) a kg after hitting an intraday high of ₹178.00 a kg on fresh buying and short covering, said traders. The grade improved to ₹ 176.00 (174.50) and ₹ 171.00 (169.50) per kg respectively as quoted by the Rubber Board and Dealers. Certain tyre makers were active in the local trading houses but they could not procure the required quantity owing to short supplies.

According to reports, the alarming spike in the virus spread in Thailand, Indonesia, Viet Nam, and Malaysia has raised new concerns over the global supply of NR. As these four countries together account for nearly 70% of the global production of natural rubber, the proliferation of the virus can hinder the global supply for a few more months ahead.

Also read: Fresh buying, short covering boost rubber

The most active August delivery was down 0.55 percent from Friday’s settlement price to close at ₹177.81 per kg with a volume of 26 lots on the Multi Commodity Exchange (MCX).

RSS 3 (spot) firmed up to ₹138.45 (137.80) per kg at Bangkok. SMR 20 improved to ₹128.57 (128.18) and Latex to ₹92.50 (92.47) per kg at Kuala Lumpur.

The natural rubber contract for the September delivery was up 0.51 percent from previous day’s settlement price to close at 13,620 Yuan (₹156,167.68) a tonne with a volume of 244,609 lots in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg) were: RSS4:177.00 (175.00); RSS5: 174.00(172.50); ISNR20: 162.00 (161.00) and Latex (60% drc): 130.50 (130.00).

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