Tyre-makers remain subdued as they have enough stocks
Spot rubber continued to remain subdued on Wednesday. According to sources, a leading tyre-maker insisted for complete deliveries till date before giving fresh purchase orders. However, the covering groups were seen procuring the raw material even above the prevailing levels to fulfil their commitments. The tyre majors were reported to be comfortable with their stockpiles as more imports have already reached their warehouses.
RSS-4 declined to ₹171 (172) per kg, as per traders and the Rubber Board. The grade weakened to ₹166 (167), said dealers. The trend was mixed as ISNR20 and latex closed unchanged amidst dull volumes.
In futures, the September delivery was up 0.53 per cent from Tuesday’s settlement price to close at ₹172 per kg with a volume of 23 lots on the Multi Commodity Exchange (MCX).
The natural rubber contract for the October 2021 delivery was down 3.01 per cent from previous day’s settlement price to close at 12.45 Yuan (₹141.88) per kg, with a volume of 582 lots in day time trading on Shanghai Futures Exchange (ShFE).
RSS-3 (spot) surrendered to ₹125.92 (127.37) per kg at Bangkok. SMR20 dropped to ₹117.45 (118.05) while Latex improved to ₹88.16 (87.87) per kg at Kuala Lumpur.
The most active February 2022 delivery was up 1.65 per cent to close at ¥200 (₹134.51) per kg with a volume of 155 lots on the Osaka Exchange, Japan (OSE).
Spot rubber rates (₹/kg): RSS-4:171 (172), RSS-5: 168 (169), ISNR20: 162 (162) and Latex (60% drc): 123.50 (123.50).
Source: The Hindu
