Spot rubber extended the gains on Wednesday. RSS4 improved to ₹182.50 (₹182 yesterday) and ₹182(₹181) per kg respectively according to traders and the Rubber Board. The grade firmed up to ₹177(₹176) per kg, said dealers.
The trend was partially mixed as Latex closed unchanged with a sharp decline in trading volumes, possibly on short supplies. As per reports, a leading tyre maker bought RSS4 up to ₹184 a kg during the session.
“With economic recovery almost back in track and the automobile industry continues to accelerate further from Covid-19 crisis, there is a surge in demand for tyres”, a spokesperson for the Automotive Tyre Manufacturing Association (ATMA) told
The most active November delivery was down 0.07 per cent from Tuesday’s settlement price to close at ₹183.25 per kg with a volume of 17 lots on the Multi Commodity Exchange (MCX).
RSS3 (spot) firmed up to ₹144.09 (₹143.34) per kg at Bangkok. SMR20 dropped to ₹131.15 (₹131.61) and Latex to ₹99.04 (₹99.66) per kg at Kuala Lumpur.
The natural rubber contract for the January 2022 delivery was down 0.44 per cent from the previous days settlement price to close at 14.61 Yuan (₹170.12) per kg with a volume of 1,82,038 lots in daytime trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg) were: RSS4:182.50 (182.00), RSS5: 180.00 (179.00), ISNR20: 168.50 (168.00) and Latex (60 per cent drc): 132.00 (132.00).