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Rubber skids on bearish global cues

Rubber skids on bearish global cues

Spot rubber closed unchanged on Wednesday. The market lost its direction amidst low volumes tracking an almost similar closing in domestic futures and weak overseas trendsetters.

RSS 4 was quoted steady at ₹155 per kg by traders and the Rubber Board. The grade finished flat at ₹151 as per dealers. The trend was partially mixed as ISNR20 improved further on fresh enquiries from the non-tyre sector.

In futures, the natural rubber contract for February delivery closed unchanged at ₹157.18 per kg against Tuesday’s settlement price on the Multi Commodity Exchange (MCX).

RSS 3 (spot) inched up to ₹159.36 (159.07) per kg at Bangkok. SMR 20 weakened to ₹117.71 (119.63) and Latex to ₹103.13 (103.37) per kg at Kuala Lumpur.

The most active natural rubber contract for May delivery was down ₹1,298.86 from previous day’s settlement price to close at ₹165,825.62 a tonne in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS 4:155 (155); RSS 5: 151 (151); ISNR20: 141 (140) and Latex (60% drc): 111 (111).

Dry-rubber training

The Rubber Board is organising a training in manufacture of dry rubber based products at Rubber Training Institute, Kottayam from February 22-26 .

The course content includes rubber compounding, process control and vulcanisate testing, manufacture of moulded, extruded and calendered goods, MSME schemes, planning and control, marketing, etc.

The medium of instruction will be English. Fee for training is ₹5,000 (18% GST+ 1% flood cess extra).

According a press release issued by the Board, the training will be conducted in strict adherence to Covid-19 protocol. For further details, contact phone 0481-2353127 or WhatsApp 04812353325. Email: [email protected] in

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

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