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Rubber rises on bullish global cues

Rubber rises on bullish global cues

Spot rubber closed higher on Monday. The market improved reacting closely to the overall gains in domestic futures and global cues as the progress in vaccine distribution and the US stimulus hopes prompted bets on further normalisation in the global economy. A moderate decline in arrivals and the absence of genuine sellers have also encouraged certain companies to procure the raw material at the prevailing levels, dealers said.

RSS 4 firmed up to ₹154 (153) per kg, according to traders and the Rubber Board. The grade improved to ₹150 (149) as per dealers.

In futures, the natural rubber contract for February delivery improved by 1.10% to ₹157 (155.29) per kg on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for May delivery was up 88 Yuan (₹994.69) from previous day’s settlement price to close at 14,768 Yuan (₹166,927.27) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) firmed up to ₹156.98 (155.09) per kg at Bangkok. SMR 20 improved to ₹119.66 (118.20) and Latex to ₹102.96 (101.57) per kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:154 (153); RSS 5: 150 (149); ISNR20: 138 (135) and Latex (60% drc): 110 (109).

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

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