Commodities

Spot rubber stays unchanged

Our Correspondent Kottayam | Updated on September 01, 2021

Loaded with imports, user industries continue to sideline the market

Spot rubber closed unchanged on Wednesday. Sentiments remained neutral as most traders preferred to wait and watch, possibly fearing further fall in prices. “The market seemed to be struggling to sustain above ₹180 a kg and any visible improvement in arrivals may to push it down below the same support line,” an analyst said.

Major consuming industries continued to sideline the market and they appeared to be comfortable with their recent imports, at least for the time being.

RSS-4 was quoted steady at ₹180.50 per kg by traders and the Rubber Board. The grade finished flat at ₹175.50 per kg, according to dealers. The transactions were meagre.

In futures, the most active September delivery was down 1.19 per cent from Tuesday’s settlement price to close at ₹179 per kg with a volume of 20 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the January 2022 delivery was up 0.14 per cent from previous day’s settlement price to close at 13,845 Yuan (₹156,473.06) a tonne with a volume of 337,502 lots in day time trading on Shanghai Futures Exchange (ShFE).

RSS-3 (spot) improved to ₹139.08 (137.13) per kg at Bangkok. SMR20 weakened to ₹120.92 (121.47) and Latex to ₹91.63 (92.97) per kg at Kuala Lumpur.

The September delivery was up 0.47 per cent from last day’s settlement price to close at ¥193.8 (₹128.38) per kg with a volume of 62 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg): RSS-4:180.50 (180.50); RSS-5: 178.50 (178.50); ISNR20: 168 (168) and Latex (60% drc): 129 (129).

Disease control training

The National Institute for Rubber Training (NIRT) under the Rubber Board is organising an online training programme in diseases and pests of rubber and their control measures on September 9. The training will be from 10.30 am to 12.30 pm. For further details, contact on phone: 0481- 2353127 or WhatsApp 7994650941. Email: training@rubberboard.org.in.

Published on September 01, 2021

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