Mixed day for rubber trade

Mixed day for rubber trade

Spot rubber ended in a mixed mood on Friday. RSS4 continued to rule unchanged at ₹169.50 a kg according to traders and the rubber board.

The grade was quoted steady at ₹164.50 per kg by the dealers. Meanwhile, RSS5 firmed up further on fresh enquiries from the general rubber goods sector but ISNR20 and latex finished lower amidst narrow volumes.

The global economic outlook has improved, ridden by stimulus measures launched by a number of countries and resumption of business operations following the vaccine rollouts to combat Covid-19, as per the Association of Natural Rubber Producing Countries (ANRPC). The improving global economic activities have scaled-up the outlook on the demand for NR. The global consumption of NR is anticipated to increase 6.7 per cent to 13.7 million tonnes in 2021 succeeding the 7.8 per cent fall in 2020.

In futures, the front month June delivery was down 0.22 per cent from Thursday’s settlement price (172.07) to close at ₹171.70 per kg with a volume of 50 lots on the Multi Commodity Exchange (MCX).

RSS 3 (spot) declined to ₹160.08 (161.62) per kg at Bangkok. SMR 20 dropped to ₹119.24 (121.18) and Latex to ₹102.38 (104.24) per kg at Kualalumpur.

The natural rubber contract for the September delivery was down 180 Yuan (₹2057.51) from previous day’s settlement price to close at 12,740 Yuan (₹145,633.72) a tonne with a volume of 4,94,477 lots in day time trading on Shanghai Futures Exchange (ShFE).

The most active November futures shed 0.42 per cent from last days settlement price to close at 237.0 Yen (₹158.10) per kg with a volume of 294 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) were: RSS4:169.50 (169.50); RSS5: 167.50 (167.00); ISNR20: 156.50 (157.00) and Latex (60 per cent drc): 124.00 (125.00).

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