Spot rubber closed weak on Tuesday. The market opened steady but lost ground as certain traders sold their stocks at higher levels possibly following the sharp declines in the global trendsetter, Shanghai Futures. RSS4 dropped to ₹191.00 (₹192.00) a kg according to traders with a visible improvement in trading volumes.
The grade was quoted steady at ₹191.00 and ₹186.00 per kg respectively by the Rubber Board and Dealers. The trend continued to remain mixed as ISNR20 and latex closed marginally higher on sustained demand.
The commodity recorded a gain of ₹6.00 per kg in November. The domestic natural rubber hit an all-time high of ₹242 per kg a decade ago. In futures, the most active December contracts were down 1.06 percent from Monday’s settlement price to close at ₹187.70 per kg with a volume of 30 lots on the Multi Commodity Exchange (MCX).
RSS3 (spot) increased to ₹150.13 (149.80) per kg at Bangkok. SMR20 weakened to ₹134.94 (135.16) while Latex firmed up to ₹106.20 (105.15) per kg at Kualalumpur.
The natural rubber contract for the January 2022 delivery was down 2.28 per cent from the previous day’s settlement price to close at 147.10 Yuan (₹173.50) per kg with a volume of 54,007 lots in daytime trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (Rs/kg) were: RSS4:191.00 (192.00), RSS5: 188.00 (189.00), ISNR20: 173.00 (172.50) and Latex (60% drc): 138.50 (138.00).