Spot rubber prices remains unchanged
Aravindan
Kottayam |
Updated on
×
Spot rubber closed unchanged on Thursday. The commodity continued to remain under pressure following the sustained weakness in domestic futures and global trendsetters.
According to reports, tyre makers have started using technically specified rubber (TSR) grade ISNR 20 than RSS 4. In fact, they account for 68 per cent of the total rubber consumption in India. ISNR20 the only gainer of the day, firmed up to ₹129.00 (128.00) per kg during late trading hours.
RSS 4 was quoted steady at ₹151.00 per kg by traders and the Rubber Board. The grade finished flat at ₹147.00 per kg as reported by the dealers. The volumes were low.
Mixed trend in spot rubber prices
Aravindan
Kottayam |
Updated on
×
Spot rubber ended in red despite a firm closing in domestic futures on Wednesday. RSS 4 slid to ₹151.00 (151.50) per kg according to traders and the Rubber Board. The grade was quoted lower at ₹147.00 (147.50) per kg by dealers.
The trend continued to remain mixed as RSS5 and ISNR20 closed unchanged while latex also lost ground on dull demand. In futures, the natural rubber contract for January delivery improved to ₹152.70 (150.55) per kg on the Multi Commodity Exchange (MCX).
The International monetary Fund (IMF) scaled up world economic outlook in 2021 to 5.5 per cent from 5.2 per cent expected earlier. As per reports, the IMF sees import and export volumes rising by 8.1 per cent for global trade this year, slightly less than the 8.3 per cent increase seen in October 2020 after an estimated 9.6 per cent decline last year. .
Spot rubber closed unchanged consecutively for the third day on Thursday. RSS 4 was quoted steady at ₹153 per kg by traders and the Rubber Board. The grade finished flat at ₹149 per kg, according to d
Shanghai booms as metals trading mirrors uneven recovery: Andy Home
China has led the industrial recovery from COVID-19 with the rest of the world struggling to catch up.
Manufacturing activity has rebounded faster than anywhere else and China’s imports of metals such as copper and aluminium have been running at record highs.
The divergence with the rest of the world is also clear in last year’s global base metals trading patterns.
The Shanghai Futures Exchange (ShFE) saw volumes surge as industrial activity bounced back from early-year lockdowns. Trading action on the London Metal Exchange (LME), by contrast, fell hard over the second half of the year causing full-year volumes to drop 7%.
Spot rubber finished high on Friday. The commodity regained strength on news that the government will increase the guaranteed price of rubber under the Rubber Production Incentive Scheme (RPIS) from ₹