Commodities

Spot rubber: RSS4 finishes flat at ₹173.50/kg

Our Bureau Kottayam | Updated on September 13, 2021

Widespread rains continued to keep the covering buyers under pressure during the day

Spot rubber closed unchanged on Monday. RSS4 finished flat at ₹173.50 per kg according to traders. The grade was quoted steady at ₹174 and ₹169 per kg by the Rubber Board and dealers, respectively. The trend was partially mixed as RSS5 lost marginally amidst dull volumes.

Widespread rains continued to keep the covering buyers under pressure during the day. They were seen procuring the raw material even above the quoted levels to fulfil their early commitments, short-sold at higher levels. “We are near the peak production season and I expect tapping to be in full swing by the second half of September. So the commodity is likely to roll back to ₹170 level soon, if the rains subside in favour of production and tapping”, an analyst said..

In futures, the most active September delivery was down 1.18 per cent from Thursday's settlement price to close at ₹170.50 per kg with a volume of 32 lots on the Multi Commodity Exchange (MCX).

Also read: Spot rubber skids on panic selling

RSS3 (spot) inched up to ₹131.69 (131.04) per kg at Bangkok. SMR20 improved to ₹120.45 (118.84) while Latex dropped to ₹89.14 (89.69) per kg at Kualalumpur.

The natural rubber contract for the September delivery was up 1.31 per cent from previous day's settlement price to close at 12.62 Yuan (₹143.98) a kg, with a volume of 240 lots in day time trading on Shanghai Futures Exchange (ShFE).

The September delivery was down 0.27 per cent from last days settlement price to close at 186.50 Yen (₹124.64) per kg with a volume of 11 lots on the Osaka Exchange, Japan (OSE).

Spot rubber rates (₹/kg) were: RSS4:173.50 (173.50), RSS5: 171.50 (172.00), ISNR20: 165.00 (165.00) and Latex (60% drc): 126.00 (126.00).

Published on September 13, 2021

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