Spot rubber stays flat in choppy trade

Our Correspondent Kottayam | Updated on March 03, 2021

Spot rubber finished flat on Wednesday. Sentiments remained neutral despite a marginal recovery in Bangkok spot and domestic futures, as most traders preferred to stay away from a choppy market.

RSS 4 was quoted steady at ₹159.50 per kg by traders and the Rubber Board. The grade closed unchanged at ₹154.50 per kg, according to dealers. The volumes continued to remain low.

In futures, the March delivery closed a tad higher at ₹162.50 (162.14) per kg on the Multi Commodity Exchange (MCX).

RSS 3 (spot) improved to ₹167.31 (166.12) per kg at Bangkok. SMR 20 bounced back to ₹128.05 (124.46), while Latex inched up to ₹124.37 (124.19) at Kuala Lumpur.

The most active natural rubber contract for May delivery was down 60 Yuan (₹676.02) from previous day’s settlement price to close at 15,540 Yuan (₹175,091.72) a tonne in day time trading on Shanghai Futures Exchange (ShFE). As per reports, the prices appeared to be in a recovery mode.

Spot rubber rates (₹/kg): RSS 4:159.50 (159.50); RSS 5: 154 (154); ISNR 20: 149.50 (149.50) and Latex (60% drc): 125 (125).

Helpline for growers

Meanwhile, the Rubber Board has announced that growers may contact Rubber Board Call Centre to seek information about the marking and tapping. R Rajagopal, Senior Scientist, Rubber Research Institute of India, will answer on March 5 from 10 am to 1 pm. The Call Centre number is 0481-2576622. Information about the services of the Board and also technical advice regarding cultivation, production, processing, etc can be regularly sought from the Call Centre functioning at its Head Office. The service is available from 9.30 am to 5.30 pm on all working days.

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Published on March 03, 2021
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