Spot rubber continued to remain neutral on Wednesday. The market lost its direction amidst scattered transactions following a sharp increase in the number of Covid 19 cases in the State. “The Government may impose more local restrictions to contain the spread of the pandemic since the situation is worse than what we actually think,” a dealer told BusinessLine.
RSS 4 closed unchanged at ₹152 per kg, according to traders and the Rubber Board. The grade was quoted steady at ₹148 by dealers.
On futures, the natural rubber contract for February delivery declined by 1.06% to ₹152.05 (153.68) per kg on the Multi Commodity Exchange (MCX).
The most active natural rubber contract for May delivery was down 340 Yuan (₹3,840.49) from previous day’s settlement price to close at 14,300 Yuan (₹161,529.95) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
RSS 3 (spot) weakened to ₹153.57 (154.44) per kg at Bangkok. SMR 20 dropped to ₹116.50 (117.60) while Latex improved to ₹100.25 (99.18) per kg at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS 4:152 (152); RSS 5: 146 (146); ISNR20: 132 (132) and Latex (60% drc): 109 (109).