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Thursday, June 1, 2023

India: Spot rubber finishes flat on Thursday

RSS4 was quoted unchanged at ₹164.00 a kg by dealers

Spot rubber finished flat on Thursday. RSS4 closed steady at ₹169.00 a kg as per traders and the Rubber Board. The grade was quoted unchanged at ₹164.00 a kg by dealers.

Covering groups continued to procure the raw material as certain tyre makers insisted on immediate deliveries and the current trend might continue till next midweek, an observer said. The volumes were moderate.

In futures, the most active October delivery was up 0.20 percent from Wednesday’s settlement price to close at ₹169.05 per kg with a volume of 20 lots on the Multi Commodity Exchange (MCX).

RSS3 (spot) firmed up to ₹129.89 (128.94) per kg at Bangkok. SMR20 improved to ₹124.17 (122.10) and Latex to ₹90.22 (88.24) per kg at Kuala Lumpur.

The natural rubber contract for the October delivery was up 2.54 percent from previous day’s settlement price to close at 13.16 Yuan (₹151.24) per kg with a volume of 567 lots in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg) were: RSS4:169.00 (169), RSS5: 166.00 (166.00), ISNR20: 161.00 (161.00) and Latex (60 per cent drc): 122.50 (122.50).

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