Stable rubber spot with an upward bias


Spot rubber traded stable with a bullish bias, despite steep declines in foreign markets on Tuesday. RSS4 closed unchanged at 170.50 per kg after hitting an intraday high of 171.00, traders said. The quality finished flat at 170.00 per kg according to the Rubber Board.

“There hasn’t been any improvement in arrivals yet and it may take another two or three weeks for supplies to build up,” said one dealer. Activity area.

Optimism about the demand sector has improved in India as several states have lifted or relaxed restrictions related to Covid-19, according to the Association of Natural Rubber Producing Countries (ANRPC). The country’s auto sector is also showing signs of recovery.

Read also: Spot rubber remains neutral

Even though sales from April to June 2021 are much lower than in the same quarter in 2019 (6.085 million units), the recovery to pre-pandemic levels was good news for the domestic market.

In futures, the July delivery was down 1.26% from Monday’s settlement price to close at 172.50 yen per kg with 28 lots volume on the Multi Commodity Exchange (MCX). RSS 3 (spot) sold 131.75 (136.03) per kg in Bangkok.

The natural rubber contract for September delivery was down 5.03% from the previous day’s settlement price to close at 12,920 yuan (1,48,821.56) per tonne with a volume of 5,74567 lots in day course on Shanghai Futures Exchange (ShFE).

Also read: Spot rubber ended in stable grade

The most active December delivery was down 0.29% from the last few days’ settlement price to close at 206.1 yen (140.54) per kg with a volume of 202 lots on the Osaka Stock Exchange, in Japan.

The rubber spot rates (₹ / kg) were: RSS4: 170.50 (170.50); RSS5: 167.50 (167.50); ISNR20: 155.00 (154.00) and Latex (60% rdc): 129.00 (129.50).

Source link


About Author

Comments are closed.