Spot rubber closed unchanged on Tuesday. RSS-4 was quoted steady at ₹133 a kg by traders and the Rubber Board. The grade finished flat at ₹129 as reported by dealers. The trend continued to remain partially mixed as ISNR-20 lost further on buyer resistance. Though the undercurrent was visibly weak, the market managed to sustain at the quoted levels on acute short supplies.
The spike in the RSS market at Bangkok helped the domestic market to sustain at the high levels it reached towards the end of July and make a marginal further gain. The local prices of RSS-4 at Kottayam market rose 3.7 per cent (from ₹131 per kg to ₹136) between July 30 and August 31 .
According to the Association of Natural Rubber producing Countries (ANRPC), RSS constitutes around 68 per cent of the total domestic production of NR in India and the country’s annual output of RSS comes to around 485,000 tonnes.
Natural rubber futures closed higher in day time trading on the Shanghai Futures Exchange (ShFE). The most active January 2021 delivery was up by 90 Yuan (₹978.65) to close at 12,360 Yuan (₹134,401.23) a tonne.
RSS-3 (spot) firmed up to ₹139.86 (138.59) a kg at Bangkok. SMR 20 improved to ₹99.96 (97.57) and Latex 60% to ₹87.78 (86.51) at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS-4:133 (133); RSS-5: 127.50 (127.50); ISNR-20: 108.50 (109) and Latex (60% drc): 77 (77).