Commodities

Spot rubber gains strength

Our Correspondent Kottayam | Updated on August 03, 2020

Physical rubber prices finished firm catalysed by the smart gains in Bangkok spot and domestic futures on Monday. In the domestic scene, tapping has come to a temporary halt following widespread rains all over the plantation areas. This may lead to another decline in arrivals while the market is suffering from an acute shortage of the raw material since the Covid-19 outbreak.

RSS4 improved to ₹132.00 (₹131.00) per kg according to traders and the Rubber Board. The grade firmed up to ₹128.00 (₹127.00) per kg as quoted by the Dealers. We expect the market to hit further highs once the tyre makers return with revised quotes, an observer said. The trend was mixed as ISNR 20 and latex finished flat amidst low volumes.

RSS 4 improved at its August futures to ₹133.97 (₹131.29) per kg on the Indian Commodity Exchange (ICEX). The contracts were up by 2.04 per cent with a volume of 22 lots and total trade value of ₹29.45 Lakh.

RSS 3 (spot) firmed up to ₹120.11 (₹117.95) per kg at Bangkok. SMR 20 weakened to ₹92.83 (₹93.92) and Latex 60% to ₹82.26 (₹82.54) per kg at Kualalumpur

Spot rubber rates (₹/kg) were: RSS4:₹132.00 (₹131.00); RSS5: ₹129.00 (₹128.00); ISNR20: ₹110.00 (₹110.00) and Latex (60% drc): ₹80.00 (₹80.00).

Published on August 03, 2020

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