Want to see a real short squeeze? Come to the tin market theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
LONDON (Reuters) - Finding financial market shorts to squeeze is this year’s investment rage.
The first lot of 1,600 tonnes of tin produced in the Vinto plant is displayed in Vinto, near Oruro, May 7, 2007. REUTERS/David Mercado (BOLIVIA)
After the Reddit assault on individual stocks, retail investors tried, unsuccessfully, to pull the same trick in the silver market.
Commodity markets are tougher to crack than individual shares, particularly if there’s no underlying shortage. Silver notched up consecutive years of oversupply between 2016 and 2019, according to the World Silver Institute.
Tin, by contrast, has been in three years of global supply deficit, according to the International Tin Association (ITA).
Spot rubber flat amid scattered transactions
February 03, 2021
×
Spot rubber continued to remain neutral on Wednesday. The market lost its direction amidst scattered transactions following a sharp increase in the number of Covid 19 cases in the State. “The Government may impose more local restrictions to contain the spread of the pandemic since the situation is worse than what we actually think,” a dealer told
BusinessLine.
RSS 4 closed unchanged at ₹152 per kg, according to traders and the Rubber Board. The grade was quoted steady at ₹148 by dealers.
On futures, the natural rubber contract for February delivery declined by 1.06% to ₹152.05 (153.68) per kg on the Multi Commodity Exchange (MCX).
Spot rubber stays unchanged as Covid cases spike in Kerala
February 02, 2021
Spot rubber closed unchanged on Tuesday. RSS 4 was quoted steady at ₹152 per kg by traders and the Rubber Board. The grade finished flat at ₹148 per kg, according to dealers. As per reports, a weak closing in domestic futures and reports on an alarming Covid-19 cases spike in Kerala kept sheet rubber under pressure during late trading hours.
In futures, the natural rubber contract for February delivery weakened by 0.48% to ₹153.70 (154.44) per kg on the Multi Commodity Exchange (MCX).
The most active natural rubber contract for May 2021 delivery was down 55 Yuan (₹621.78) from previous day s settlement price to close at 14,570 Yuan (₹164,714.33) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Mixed trend in rubber
Aravindan
Spot rubber was in a mixed mood on Friday as RSS 5 and ISNR20 ended in green while latex lost further amidst extremely low demand.
“As the peak production season is almost at the fag end, we have a moderate decline in arrivals,” a dealer said. Meanwhile sharp declines in the domestic stock markets during the last couple of sessions continued to cast shadows over the traders’ sentiments.
RSS 4 finished flat at ₹151.00 per kg according to traders and the Rubber Board. The grade was quoted unchanged at ₹147.00 per kg by dealers.
In futures, the natural rubber contract for January delivery closed higher ₹152.00 (151.50) per kg on the Multi Commodity Exchange (MCX).