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Saturday, October 23, 2021

India: Spot rubber dips further


Spot rubber declined further on Tuesday.

According to sources, the market is expected to reduce the wide gap between the local and the global rates in the coming weeks. Major manufacturers, continued to remain on sidelines as the prices retreated further amidst low volumes. There were no quantity sellers on any grade since it may take a couple of weeks to show an improvement in arrivals following the resumption of tapping.

Sheet rubber weakened to Rs 184 from Rs 185 and Rs 186 a kg respectively, according to traders and the Rubber Board.

September futures dropped to Rs 175.52 (Rs 177.08) while the October futures improved to Rs 170.36 (Rs 169.49), November to Rs 167.51 (Rs 167.07) and December to Rs 168.45 (Rs 168.04) for RSS 4 on the National Multi Commodity Exchange.

RSS 3 (spot) inched up to Rs 162.12 (Rs 162.03) at Bangkok. August futures closed at ¥250.5 (Rs 162.93) from ¥260.5 on the Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4: 184 (185); RSS-5: 182 (183); Ungraded: 173 (174); ISNR 20: 170 (170) and Latex 60 per cent: 161 (162.50).

Source: The Hindu

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