Spot rubber closed higher on Tuesday. RSS-4 was quoted firm at ₹171 (170) per kg by traders. The grade improved to ₹170.50 (170) per kg, according to the Rubber Board. Meanwhile, ISNR 20 and latex continued to remain unchanged and hence, the trend was partially mixed.
“We expect natural rubber to reach further highs this year,” said James Thomas, a leading industrialist. “The commodity is bullish both fundamentally and technically and we are extremely optimistic while looking forward to the next fiscal”.
In futures, the April delivery was up 1.46% from Friday’s settlement price to close at ₹ 171.70 per kg on the Multi Commodity Exchange (MCX).
RSS 3 (spot) improved to ₹162.80 (162.51) per kg at Bangkok. SMR 20 declined to ₹120.90 (122.55) and Latex to ₹119.47 (119.97) per kg at Kuala Lumpur.
The most active natural rubber contract for May delivery was down 165 Yuan (₹1847.44) from previous day’s settlement price to close at 14,015 Yuan (₹156,953.31) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS 4:171 (170); RSS 5: 167.50 (167); ISNR20: 155.50 (155.50) and Latex (60% drc): 128 (128).