Commoditie

Rubber skids on bearish global cues

Our Corresponden Kottayam | Updated on February 10, 2021 Published on February 10, 2021

Spot rubber closed unchanged on Wednesday. The market lost its direction amidst low volumes tracking an almost similar closing in domestic futures and weak overseas trendsetters.

RSS 4 was quoted steady at ₹155 per kg by traders and the Rubber Board. The grade finished flat at ₹151 as per dealers. The trend was partially mixed as ISNR20 improved further on fresh enquiries from the non-tyre sector.

In futures, the natural rubber contract for February delivery closed unchanged at ₹157.18 per kg against Tuesday’s settlement price on the Multi Commodity Exchange (MCX).

RSS 3 (spot) inched up to ₹159.36 (159.07) per kg at Bangkok. SMR 20 weakened to ₹117.71 (119.63) and Latex to ₹103.13 (103.37) per kg at Kuala Lumpur.

The most active natural rubber contract for May delivery was down ₹1,298.86 from previous day’s settlement price to close at ₹165,825.62 a tonne in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS 4:155 (155); RSS 5: 151 (151); ISNR20: 141 (140) and Latex (60% drc): 111 (111).

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Published on February 10, 2021
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