Spot rubber continued to shed the early gains on Tuesday. The commodity remained under pressure as certain dealers tried to book profits at higher levels while the declines in global indices took the steam out of the market. Major consuming industries were active in the local trading houses but they preferred to keep a very low profile possibly to cool down the recent spurt in prices.
RSS4 declined to Rs 155.00 (158.00) per kg according to traders and the Rubber Board. The grade weakened to Rs 151.00 (154.00) per kg as per Dealers. The market made all-round declines on buyer resistance.
RSS 3 (spot) surrendered to Rs 175.44 (185.00) per kg at Bangkok. SMR 20 slid to Rs 114.14 (114.73) and Latex to Rs 135.52 (136.00) per kg at Kualalumpur.
Natural rubber futures lost further in day time trading on Shanghai Futures Exchange (SHFE). The front month November delivery was down by 260 Yuan (Rs.2894.85) to close at 13,595 Yuan (Rs 151,367.31) a tonne.
Spot rubber rates (Rs/kg) were: RSS4:155.00 (158.00); RSS5: 150.00 (153.00); ISNR20: 125.00 (128.00) and Latex (60% drc): 111.00 (112.00).
Published on November 3, 2020
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