Commodities

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

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