Spot rubber prices remain low

Spot rubber prices remain low

Spot rubber continued to remain subdued on Monday. The market opened steady but lost the initial strength tracking the heavy losses in Bangkok spot. As per reports, major overseas markets witnessed heavy selling pressure during the day.

RSS 4 weakened to ₹151.50 (152.00) per kg according to traders and the Rubber Board. The grade dropped to ₹147.50 (148.00) per kg according to dealers. The trend was mixed as the remaining grades and Latex closed unchanged in an almost inactive trading session.

The natural rubber contract for January delivery weakened to ₹150.55 (151.31) per kg on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for May 2021 delivery was down by 280 Yuan (₹3,153.73) from previous day’s settlement price to close at 14,265 Yuan (₹160,671.21) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) surrendered to ₹153.38 (157.55) per kg at Bangkok. SMR 20 weakened to ₹114.23 (115.06) and Latex to ₹98.71 (100.02) per kg at Kualalumpur.

Spot rubber rates (Rs/kg) were: RSS4:151.50 (152.00); RSS5: 144.00(144.00); ISNR20: 128.00 (128.00) and Latex (60% drc): 112.00 (112.00).

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

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