Commodities

Supply concerns lift spot rubber

Our Correspondent Kottayam | Updated on May 17, 2021

Sheet rubber and latex made considerable gains

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).

Published on May 17, 2021

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