Spot rubber in bear grip

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Spot rubber finished flat on Wednesday. RSS 4 continued to rule steady at ₹169 per kg, according to traders and the Rubber Board. The grade was quoted unchanged at ₹164 by dealers. The trend was partially mixed as ISNR20 and latex lost marginally amidst scattered transactions. The overall volumes were low.

Plummeting overseas markets and muted demand from tyre-makers kept domestic rubber under pressure during the day. As per reports, Asian markets skidded to a two week low as corona virus lock downs in Europe and US tax hikes persuaded the investors for bargain hunting.

RSS 3 (spot) declined to ₹165.27 (168.35) per kg at Bangkok. SMR 20 dropped to ₹127.02 (128.17) and Latex to ₹121.50 (122.07) per kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:169 (169); RSS 5: 166 (166); ISNR20: 155.50 (151) and Latex (60% drc): 129 (129.50).

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