Rubber skids on lockdown

Our Correspondent Kottayam | Updated on August 17, 2020

Spot rubber continued to remain subdued despite a firm closing in global trendsetters on Monday.

Sentiments were driven by the fears of a second wave of Covid-19 pandemic which can hinder the recovery in the global economy and subsequently the demand for NR. .

RSS4 moved down to ₹132.00 (133.00) per kg according to traders and the Rubber Board. The grade weakened to ₹128.00 (129.00) per kg as quoted by the Dealers. The market made all-round declines on buyer resistance though the local trading houses were reported to be suffering from acute short supplies.

The September futures declined to ₹130.78 (133.00) per kg on the Indian Commodity Exchange (ICEX). The contracts were down by 1.67% with a volume of 3 lots and total trade value of ₹3.92 Lakh.

RSS 3 (spot) improved to ₹129.96 (128.97) per kg at Bangkok. SMR 20 firmed up to ₹98.15 (97.39) and Latex 60% to ₹85.33 (85.24) per kg at Kualalumpur.

Spot rubber rates (₹/kg) were: RSS4:132.00 (133.00); RSS5: 128.00 (129.50); ISNR20: 110.00 (111.00) and Latex (60% drc): 79.25 (80.00).

Published on August 17, 2020

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

This article is closed for comments.
Please Email the Editor