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Rubber prices firm up

November 12, 2019

 

Spot rubber improved on Tuesday. RSS 4 firmed up to Rs 127.50 (126.50) per kg, according to traders and the Rubber Board. The grade closed higher at Rs 123.50 (122.50) per kg, as quoted by dealers. The trend continued to remain partially mixed as latex finished flat amidst low volumes. Meanwhile, the Indian Commodity Exchange (ICEX) remained closed on account of 'Guru Nanak Jayanti'.

 

Sentiments were driven by the news of a sharp decline in exports from the top rubber producing countries, namely, Thailand, Indonesia and Malaysia, and a fall in domestic imports. The market may experience an acute shortage of the raw material in the days ahead and a steady increase in prices, sources said.

 

Representatives from the member countries of the International Tripartite Rubber Council (ITRC), namely, Thailand, Indonesia and Malaysia, have met to discuss and analyse the prevailing market situation. According to reports, they will collectively monitor and continue to implement measures to ensure that the NR price moves to a remunerative level for all rubber smallholders and other stakeholders in the NR industry.

 

 

RSS 3 (spot) inched up to Rs 106.36 (106.17) per kg at Bangkok. The November futures slid to Rs 106.65 (106.89), while the December futures improved to Rs 108.28 (106.76) and January to Rs 110.20 (109.58) per kg on the Tokyo Commodity Exchange (TOCOM).

 

Spot rubber rates (Rs/kg) were:

 

RSS-4: 127.50 (126.50)

 

RSS-5: 125.00 (124.50)

 

ISNR 20: 117.00 (116.00)

 

and Latex (60% drc): 91.50 (91.50)

 

Source:https://www.thehindubusinessline.com/

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