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Spot rubber ended in red on Wednesday. The commodity continued to remain subdued as rains subsided following a favourable change in weather, giving hopes for a subsequent improvement in production and arrivals.
“Even certain non-tyre companies have started depending on imports for an uninterrupted production”, analysts said. “So there may be a slow fall in demand also in the days ahead”.
RSS-4 weakened to ₹190 (191) per kg, according to traders and the Rubber Board. The grade dropped to ₹185 (186) as per dealers. The trend continued to remain mixed as ISNR20 and latex closed unchanged amidst extremely dull volumes.
There were sellers in the market even at lower levels during late trading hours.
In futures, the most active December contracts were down 2.13 per cent from Tuesday’s settlement price to close at ₹183 per kg with a volume of 41 lots on the Multi Commodity Exchange (MCX).
RSS-3 (spot) declined to ₹148.76 (150.13) per kg at Bangkok. SMR20 slid to ₹133.96 (134.94), while Latex firmed up to ₹106.53 (106.20) per kg at Kualalumpur.
The natural rubber contract for the front month January 2022 delivery was up 0.37 per cent from previous day’s settlement price to close at 149.60 Yuan (₹176.95) per kg with a volume of 45,257 lots in daytime trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg) were: RSS-4:190 (191), RSS-5: 187 (188), ISNR20: 173 (173) and Latex (60% drc): 138.50 (138.50).
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