India’s consumption increases amidst a drop in imports: ANRPC
Spot rubber continued to remain neutral on Tuesday. RSS 4 was quoted steady at ₹157 per kg by traders and the Rubber Board. The grade closed unchanged at ₹153 as reported by dealers. The volumes were dull.
According to the Association of Natural Rubber Producing Countries (ANRPC), India consumed 396,000 tonnes of NR during the four months from July to October 2020, by representing a 9.5 per cent increase from the same period in the previous year, as per the preliminary data. A 1.3 per cent year-over-year increase in consumption is anticipated during November and December.
The volume of import in India dropped by 28.1 per cent, year-over-year, during the first 10 months of 2020 due to the fall in the domestic consumption during the period. The consumption fell 13.5 per cent, year-over-year, during the same period of the year.
Natural rubber futures closed higher in day time trading on Shanghai Futures Exchange (ShFE). The most active natural rubber contract for May 2021 delivery was up by 10 Yuan (₹112.43) to close at 14,610 Yuan (₹164,265.30) a tonne.
RSS 3 (spot) firmed up to ₹168.91 (167.29) per kg at Bangkok. SMR 20 weakened to ₹116.16 (116.35) but Latex to ₹107.12 (107.93) per kg at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS 4:157 (157); RSS 5: 147 (147); ISNR20: 130 (130) and Latex (60% drc): 106 (106).
The Rubber Board is organising an online workshop in latest trends in tyre retreading at Rubber Training Institute, Kottayam on December 18. The workshop focuses on rubber compounding, tyre retreading process, latest trends in tyre retreading materials and manufacture. The workshop will be from 2.00 pm to 5.00 pm.
Fee for the workshop is ₹595 (including 18 per cent GST and one per cent flood cess) for Keralites having no GST registration and ₹590 for non-Keralites and Keralites having GST registration. The participants can pay the fee directly to account No. 1450300184 of Central Bank of India (IFS Code – CBIN0284150) in favour of Director, Training, Rubber Board, Kottayam.