Spot rubber ended in green on Friday. RSS 4 concluded at ₹168 (166) per kg, according to traders and the Rubber Board. The grade firmed up to ₹163 (161) as reported by the Dealers. There were no quantity sellers in the market even at higher levels.
Moderate gains in overseas trendsetters and favourable market fundamentals took the commodity to further highs during the day. Growers seemed to be confident to wait for even better levels as the Minimum Support Price (MSP) for rubber is ₹170 in the state now. “We expect sheet rubber to cross this much awaited level in a couple of trading days”, a dealer told Business Line.
In futures, the March delivery improved from Thursday’s settlement price to ₹169 (168.09 ) per kg on the Multi Commodity Exchange (MCX).
RSS 3 (spot) improved to ₹174.46 (173.98) per kg at Bangkok. SMR 20 firmed up to ₹131.10 (128.21) and Latex to ₹124.77 (122.98) per kg at Kuala Lumpur.
The most active natural rubber contract for May delivery was up 65 Yuan (₹726.95) from previous day’s settlement price to close at 15,265 Yuan (₹170,721.42) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg) were: RSS 4:168 (166); RSS 5: 164 (162); ISNR20: 150 (149.50) and Latex (60% drc): 128.50 (127.50).