Commodities

Supply woes lift spot rubber

Our Correspondent Kottayam | Updated on October 28, 2021

NR prices are on a rising trajectory through the end of the year

Spot rubber extended the gains on Thursday. “The market is suffering from acute short supplies and most buyers are giving priority to quantity than rate now”, an analyst said. “Truly speaking, this is a seller’s market.”

As per reports, heavy rains are likely to continue till month end and the supply-demand fundamental and a combination of other factors are favourable for NR prices to continue along a rising trajectory through the end of the year.

RSS-4 improved to ₹174.50 (173) and ₹174 (173) per kg, respectively, according to traders and the Rubber Board. The grade was quoted firm at ₹169 (168) per kg by dealers. The volumes were low.

In futures, the most active November delivery was up 0.71 per cent from Wednesday’s settlement price to close at ₹177.98 per kg with a volume of 32 lots on the Multi Commodity Exchange (MCX).

RSS-3 (spot) weakened to ₹143.61 (143.91) per kg at Bangkok. SMR20 declined to ₹131.20 (134.42) and Latex to ₹99.64 (100.06) per kg at Kuala Lumpur.

The natural rubber contract for the November delivery was up 1.55 per cent from previous day’s settlement price to close at 13.84 Yuan (₹162.07) per kg with a volume of 1179 lots in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS-4:174.50 (173), RSS-5: 172 (171), ISNR20: 162 (161) and Latex (60% drc): 126.50 (125.50).

Published on October 28, 2021

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