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Spot rubber closed unchanged with upward bias on Tuesday. RSS4 was quoted steady at ₹167.00 per kg by traders. The grade improved to ₹166.50 (₹166.00) per kg according to the Rubber Board. There were no quantity sellers even at higher levels and the overall volume continued to remain low following a sharp decline in raw material inflow.
"There is an unexpected drop in arrivals but we do not have the required data to explore if there is also a consecutive fall in production during the ongoing peak tapping season. Still, I feel that the weather is not so favourable for latex harvesting" an observer told BusinessLine .
In futures, the most active January contracts were down 1.28 per cent from previous day's settlement to close at ₹166.55 per kg with 29 lots on the Multi Commodity Exchange (MCX).
RSS3 (spot) firmed up to ₹142.91 (₹142.23) per kg at Bangkok. SMR20 improved to ₹130.67 (₹130.14) and Latex to ₹97.31 (₹95.16) per kg at Kuala Lumpur.
The natural rubber contract for the January 2022 delivery was down 0.87 per cent from the previous day's price to close at 14.41 Yuan (₹168.86) per kg with a volume of 1,562 lots in daytime trading on Shanghai Futures Exchange (ShFE).
The most active May 2022 delivery was up 0.21 per cent to close at 236.0 Yen (₹151.75) per kg with a volume of 137 lots on the Osaka Exchange (OSE), Japan.
Spot rubber rates (Rs/kg) were: RSS4:167.00 (167.00), RSS5: 163.00(163.00), ISNR20: 150.00 (150.00) and Latex (60% DRC - dry rubber content): 127.00 (126.00).
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