Commodities

Spot rubber skids on higher arrivals

Our Correspondent Kottayam | Updated on September 21, 2021

Peak production season begins in Kerala

Spot rubber ended in red on Tuesday. Certain tyre makers were active in the market but they kept their quotes even lower providing more time to deliver the raw material. “There is also a steady improvement in arrivals as we are almost at the beginning of the peak production season,” an observer said.

RSS-4 dropped to ₹172 (173) per kg, according to traders and the Rubber Board. The grade slid to ₹167 (168) as reported by the dealers.

In futures, the most active September delivery was up 0.81 per cent from previous day’s settlement price to close at ₹172.35 per kg with a volume of 56 lots on the Multi Commodity Exchange (MCX).

As per reports, the short-term trends in global NR markets are expected to be set by certain key factors. They include potential demand from Chinese companies for building-up the inventories, strength of the US dollar; developments in the crude oil market and potential changes in the spread of Covid-19.

RSS-3 (spot) declined to ₹127.37 (129.35) per kg at Bangkok. SMR20 weakened to ₹118.05 (119.24) and Latex to ₹87.87 (88.27) per kg at Kuala Lumpur.

The front month September delivery closed unchanged at ¥187 (₹125.77) per kg with a volume of 9 lots on the Osaka Exchange, Japan (OSE).

Spot rubber rates (₹/kg): RSS-4:172 (173), RSS-5: 169 (170), ISNR20: 162 (163) and Latex (60% drc): 123.50 (124).

Published on September 21, 2021

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