Spot rubber resumed the upward journey on Thursday. RSS 4 improved further to ₹166 (164.50) per kg, according to traders and the Rubber Board.
The grade was quoted firm at ₹161 (159.50) per kg by dealers. The physical market was almost in a holiday mood as the domestic rubber futures remained closed on Multi Commodity Exchange (MCX) owing to MahaShivarathri.
Apart from the most favourable market fundamentals, the natural rubber prices were led by a similar trend in crude oil prices in February 2021 which posted a 13.7% growth while comparing to January 2021.
As per reports, the average price of SMR-20 and STR-20 have recorded a 6.1% and 4.7% growth, respectively in the block rubber market.
In the rubber sheets market, average price of RSS-3 in Bangkok recorded an increase of 3.6% in February 2021 against the previous month.
RSS 3 (spot) weakened to ₹173.98 (174.01) per kg at Bangkok. SMR 20 dropped to ₹128.21 (130.89) and Latex to ₹122.98 (123.33) at Kuala Lumpur.
The most active natural rubber contract for May delivery was up 240 Yuan (₹2689.64) from previous day's settlement price to close at 15,385 Yuan (₹172,417.28) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS 4:166 (164.50); RSS 5: 162 (160); ISNR20: 149.50 (149.50) and Latex (60% drc): 127.50 (127.50).