Spot rubber bounced back on Monday. RSS-4 improved to ₹172 (169) per kg, according to traders and the Rubber Board. The market regained strength mainly on supply concerns coupled with bargain hunting at lower levels.
However, the growing number of active Covid-19 cases in the State continued to raise concerns over demand.
In futures, the front month May delivery was down 0.13 per cent from Friday’s settlement price to close at ₹175.60 per kg with a volume of 46 lots on the Multi Commodity Exchange (MCX).
RSS 3 (spot) slid to ₹170.93 (171.10) per kg at Bangkok. SMR 20 declined to ₹121.36 (125.54 ) and Latex to ₹114.69 (116.46) per kg at Kuala Lumpur.
The most active natural rubber contract for September delivery was down 30 Yuan (₹341.28) from previous day’s settlement price to close at 13,365 Yuan (₹152,042.28) a tonne with a volume of 434,699 lots in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg) were: RSS 4:172 (169); RSS 5: 169 (166); ISNR20: 152(151) and Latex (60% drc): 128.50 (127.50).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.