Commodities

Spot rubber stays flat

Our Correspondent Kottayam | Updated on October 08, 2021

Higher imports force industries stay away from the market

Spot rubber closed unchanged on Friday. The market ended the session in a stalemate as covering buyers withdrew from the market after procuring almost 90 per cent of their required quantity at the prevailing levels. RSS-4 was quoted steady at ₹170 a kg by traders and the Rubber Board. The grade finished flat at ₹165, according to dealers.

Major consuming industries were mostly inactive during the week. This may be since NR imports stayed relatively high despite a steady improvement in the domestic supplies during the month of September. Based on preliminary estimates, India imported 41,000 tonnes of NR in September as against the import of 35,100 tonnes in July and 40,500 tonnes in August, said the Association of Natural Rubber Producing Countries (ANRPC).

In futures, the most active October delivery was up 0.79 per cent from Thursday’s settlement price to close at ₹170 per kg with a volume of 16 lots on the Multi Commodity Exchange (MCX).

RSS-3 (spot) improved to ₹134.46 (131.11) per kg at Bangkok. SMR 20 firmed up to ₹129.70 (126.65) and Latex to ₹92.11 (91.33) per kg at Kuala Lumpur.

The natural rubber contract for the October delivery was up 2.92 per cent from previous day’s settlement price to close at 13.34 Yuan (₹155.29) per kg with a volume of 211 lots in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS-4:170 (170), RSS-5: 168 (168), ISNR20: 158 (158) and Latex (60% drc): 122 (122).

Published on October 08, 2021

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