Spot rubber remains flat on weak volumes

Aravindan Kottayam | Updated on November 04, 2019

Spot rubber finished flat on Monday. RSS 4 was quoted steady at Rs.125.00 a kg by the Rubber Board and traders. The grade remained unchanged at Rs.121.00 per kg, according to dealers. The market lost its direction amidst extremely weak volumes while Latex continued to explore further lows on buyer resistance.

The market closed unchanged quoting RSS 4 at Rs.125.00 a kg both at Kottayam and Kochi last Saturday. RSS 5 also closed unchanged at Rs.123.00 per kg during the weekend session. Sentiments remained neutral possibly in the absence of domestic and global guidance.

In September, India's natural rubber imports fell 26.4% to 42,550 tonnes as per the data provided by Directorate General of Commercial Intelligence and Statistics. The imports were down by 40% on a year-on-year basis. This decline in imports might also support prices in the days ahead, sources said.

In futures, the November contracts improved to Rs.127.43 (124.84), December to Rs. 128.69 (125.66) and January to Rs.130.20 (128.25) per kg on the Indian Commodity Exchange (ICEX).

RSS 3 (spot) firmed to Rs.104.81 (104.67) per kg at Bangkok. The November futures weakened to Rs.99.01 (99.48), December to Rs.102.20 (102.91) and January to Rs. 105.00 (105.92) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 125.00 (125.00)

RSS-5: 123.00 (123.00)

ISNR 20: 114.50 (114.50) and Latex (60% drc): 94.00 (95.00)

Published on November 04, 2019

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