Spot rubber closed unchanged on Tuesday. The market managed to sustain at the prevailing levels despite a weak closing in overseas trend setters on supply concerns. In fact, the State government’s decision to enforce strict norms to curb civic life and impose partial lockdowns during weekends to slow down the transmission of coronavirus may lead to natural rubber scarcity in the days ahead, a grower told BusinessLine .
RSS4 was quoted steady at ₹163.50 per kg by traders and the Rubber Board. The grade finished flat at ₹158.50 per kg according to dealers.
In futures, the front month April delivery was up 0.39 per cent from Monday’s settlement price to close at ₹159.00 per kg with a volume of 2 lots on the Multi Commodity Exchange (MCX).
RSS 3 (spot) slid to ₹164.21 (164.37) per kg at Bangkok. SMR 20 weakened to ₹122.36 (125.18) and Latex to ₹111.97 (113.12) per kg at Kualalumpur.
The most active natural rubber contract for September delivery was down 170 Yuan (₹1957.21) from previous day’s settlement price to close at 13,810 Yuan (₹158,994.75) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg) were: RSS4:163.50 (163.50); RSS5: 160.00 (160.00); ISNR20: 145.00 (145.00) and Latex (60% drc): 118.50 (119.50).