Spot rubber holds steady on buyer resistance

Our Correspondent Kottayam | Updated on February 19, 2021

Spot rubber was quoted steady despite a firm closing in overseas markets on Friday. RSS 4 finished flat at ₹157.50 per kg, according to traders and the Rubber Board. The grade hit an intra-day high of ₹158.50 during early trades, but shed the initial gains later on buyer resistance. The trend was mixed as RSS 5 and Latex improved further on enquiries from the general rubber goods sector.

In futures, the natural rubber contract for February delivery improved to ₹162.49 (161.06) per kg from Wednesday’s settlement price on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for May delivery was up 365 Yuan (₹4091.25) from previous day’s settlement price to close at 15,650 Yuan (₹175,419.77) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) improved to ₹171 (169.06) per kg at Bangkok. SMR 20 firmed up to ₹123.09 (122.54) and Latex to ₹107.87 (105.75) per kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:157.50 (157.50); RSS 5: 153 (152.50); ISNR20: 144 (144) and Latex (60% drc): 118 (116.50).

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 19, 2021
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.