Spot rubber up a tad

Kottayam | Updated on April 30, 2021

Spot rubber ended the week on a positive note on Friday. “The wide gap between the minimum support price (MSP) of RSS4 and its market price prompted certain companies and covering buyers to procure the raw material during the last couple of sessions,” a trader said. Soaring crude oil prices and yet another firm closing in Bangkok spot also added fuel to the current recovery in the market.

RSS4 firmed up to ₹167.00 (165.00) per kg, according to traders and the Rubber Board. The grade improved to ₹162.00 (160.00) per kg, said dealers. The trend was mixed as ISNR20 and latex closed unchanged, while the overall volumes continued to remain low.

In futures, the near month May delivery was down 0.05 per cent from Thursday’s settlement price to close at ₹167.66 per kg with a volume of 43 lots on the Multi Commodity Exchange (MCX). RSS 3 (spot) improved to ₹167.33 (165.61) per kg at Bangkok. SMR 20 firmed up to ₹125.16 (123.83) and Latex to ₹113.22 (112.74) per kg at Kualalumpur. The most active natural rubber contract for September delivery was down 140 Yuan (₹1,603.80) from previous day’s settlement price to close at 13,890 Yuan (₹159,120.81) a tonne in day time trading on Shanghai Futures Exchange (ShFE). Spot rubber rates (₹/kg) were: RSS4:167.00 (165.00); RSS5: 164.00 (162.00); ISNR20: 144.50 (144.50) and Latex (60% drc): 118.50 (118.50).

Published on April 30, 2021

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