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Mixed trend in rubber

Mixed trend in rubber

Spot rubber closed unchanged consecutively for the third day on Thursday. RSS 4 was quoted steady at ₹153 per kg by traders and the Rubber Board. The grade finished flat at ₹149 per kg, according to dealers. The trend was partially mixed as Latex improved mainly on enquiries from the general rubber goods sector.

In futures, the natural rubber contract for January delivery declined to ₹152.66 (154.39) per kg on the Multi Commodity Exchange (MCX).

Experts have warned that the evolution of the global coronavirus pandemic and geopolitical tensions between the United States and China will continue to reverberate throughout the world for some time, even after the virus is brought under control and bilateral tensions ease.

Meanwhile, stocks and commodities made healthy gains in major overseas markets on optimism about the US President Joe Biden’s economic and Covid recovery plans, reports said.

The most active natural rubber contract for May 2021 delivery was up by 55 Yuan (₹621.27) from Wednesday’s settlement price to close at 14,745 Yuan (₹166,548.95) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) dropped to ₹160.28 (161.53) per kg at Bangkok. SMR 20 improved to ₹117.53 (116.82 ) and Latex to ₹101.04 (100.62) per kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS4:153 (153); RSS5: 144 (144); ISNR20: 127 (127) and Latex (60% drc): 112 (111.50).

This article is auto-generated by Algorithm Source: www.thehindubusinessline.com

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