Spot rubber price holds firm

Spot rubber finished firm on Thursday. RSS 4 improved to Rs.164.00 (Rs 163.50) per.kg, according to traders and the Rubber Board. The grade was quoted at Rs.160.00 (Rs 159.50) per kg by Dealers. The trend continued to remain mixed as Latex closed unchanged consecutively for the eighth day on extremely low demand.

The wide gap between the domestic and global rubber prices and the absence of quantity sellers kept the buyers active in the local trading houses. “We expect sheet rubber to cross Rs.170.00 soon as the undercurrent is visibly bullish” an observer told Business Line.

Natural rubber futures closed higher in day time trading on Shanghai Futures Exchange (ShFE). The near month January 2021 delivery was up by 105 Yuan (Rs.1,183.31) to close at 15,395 Yuan (Rs.173,495.71) a tonne.

RSS 3 (spot) improved to Rs.186.90 (184.36) per kg at Bangkok. SMR 20 firmed up to Rs.123.97 (122.54) and Latex to Rs.108.64 (108.34) per kg at Kualalumpur.

Spot rubber rates (Rs/kg) were: RSS4:164.00 (163.50); RSS5: 156.00 (155.50); ISNR20: 132.00 (131.00) and Latex (60% drc): 108.00 (108.00).