Commodities

Spot rubber gains strength

Our Correspondent Kottayam | Updated on May 28, 2020 Published on May 28, 2020

Spot rubber regained strength partially, tracking the sustained gains in domestic futures on Thursday.

RSS 4 improved to Rs 115.00 (114.00) and Rs.115.50 (115.00) per kg respectively according to traders and the Rubber Board. The trend continued to remain mixed as ISNR 20 lost further on buyer resistance and latex finished higher on increased demand from the non tyre sector..

“The market improved mainly following the enquiries from the general rubber goods sector”, a trader told BusinessLine. “The tyre people were not seen procuring the raw material from the physical market but they might be buying probably from futures”, he added

RSS 4 improved at its June futures to Rs 120.59 (117.39) and July to Rs 119.57 (117.48) per kg on the Indian Commodity Exchange (ICEX). The near month July contracts were up by 2.73 per cent with a volume of 79 lots and total trade value of Rs.94.46 Lakh.

The June futures concluded at Rs. 97.05 (96.77) and July at Rs 100.71 (100.78) per kg on the Tokyo Commodity Exchange (TOCOM). SMR20 weakened to Rs 84.64 (84.92) while Latex 60% firmed up to Rs 79.09 (78.54) per kg at Kualalumpur. RSS 3 (spot) improved to Rs 107.27 (106.95) per kg at Bangkok.

Spot rubber rates (Rs/kg):

RSS-4: 115.00 (114.00); RSS-5: 110.00 (110.00); ISNR 20: 103.00 (104.00) and Latex (60% drc): 82.50 (82.00).

Published on May 28, 2020
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