Spot rubber ended the day in a positive note despite a weak closing in global trendsetters on Monday. There is a steady improvement in domestic demand but supplies fell further as incessant rains continue to hinder tapping across State.

“I expect RSS-4 to cross ₹180 soon if weather continues to remain unfavourable for tapping and production”, a leading rubber dealer based at Kottayam told BusinessLine. “The market may even create a new yearly high this time”.

As per reports, there will also be a delay in imports in November due to the shortage of shipping containers and sharp increase in fright charges.

RSS-4 improved to ₹176.50 (175) and ₹176 (174.50) respectively, according to traders and the Rubber Board. The grade was quoted at ₹170 (169.50) per kg by dealers. The commodity hit an intra-day high of ₹178 a kg during the latter half of the trading session.

In futures, the most active November delivery was up 0.41 per cent from Friday’s settlement price to close at ₹178.12 per kg with a volume of 30 lots on the Multi Commodity Exchange (MCX).

RSS3 (spot) weakened to ₹143.45 (143.87) per kg at Bangkok. SMR20 declined to ₹130.31 (133.56) and Latex to ₹99.13 (100.79) per kg at Kuala Lumpur.

The natural rubber contract for the November delivery was down 3.29 per cent from previous days settlement price to close at 13.38 Yuan (₹156.71) per kg with a volume of 340 lots in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg) were: RSS-4:176.50 (175), RSS-5: 173.50(172.50), ISNR20: 163.50 (162.50) and Latex (60% drc): 129 (127).

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