Spot rubber lost ground on Monday. The market shed the weekend gains when covering purchases were over and finished lower on buyer resistance. RSS4 declined to ₹173.00 (₹174.00) per kg, according to traders and the Rubber Board.
The grade was quoted weak at ₹168.00 per kg by dealers. Major consuming industries continued to wait and watch, expecting further fall in prices.
The global supply of natural rubber is expected to improve in the short term, reports the Association of Natural Rubber Producing Countries (ANRPC). The month of October usually produces more NR compared to the immediate previous months, catalysed by favourable seasonal factors prevailing in major producing countries. But the anticipated large volumes of imports from China can wipe-out the increase in the global supply anticipated in October 2021.
In domestic futures, the most active September delivery was down 2.38 percent from previous day’s settlement price to close at ₹171.20 per kg with a volume of 23 lots on the Multi Commodity Exchange (MCX).
RSS3 (spot) weakened to ₹129.35 (132.47) per kg at Bangkok. SMR20 dropped to ₹119.24 (122.04) and Latex to ₹88.27 (90.01) per kg at Kualalumpur.
Spot rubber rates (Rs/kg) were: RSS4:173.00 (174.00), RSS5: 170.00 (172.00), ISNR20: 163.00 (165.00) and Latex (60 per cent drc): 124.00 (125.00).
The National Institute for Rubber Training (NIRT) under the Rubber Board is organising an online training programme in rainguarding on 21 September 2021 from 2.30 pm to 4.00 pm. The medium of instruction will be Malayalam.