Rubber rises on bullish worldwide cues

Rubber rises on bullish worldwide cues

by admin- Tuesday, February 9th, 2021 08:21:59 AM

Spot rubber closed higher on Monday. The market stepped forward reacting closely to the overall gains in domestic futures and global cues as the progress in vaccine distribution and the United States stimulus hopes brought about bets on in addition normalisation within the global economic system. A moderate decline in arrivals and the absence of authentic sellers have also endorsed sure groups you obtain the raw material on the winning levels, dealers stated.

RSS 4 firmed up to ₹154 (153) in line with kg, in line with buyers and the Rubber Board. The grade progressed to ₹150 (149) as according to sellers
In futures, the natural rubber settlement for February delivery improved by 1.10% to ₹157 (155.29) in step with kg on the Multi Commodity Exchange (MCX).

The most lively natural rubber agreement for May transport became up 88 Yuan (₹994.Sixty nine) from previous day’s settlement fee to shut at 14,768 Yuan (₹166,927.27) a tonne in day time buying and selling on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) firmed up to ₹156.Ninety eight (one hundred fifty five.09) in line with kg at Bangkok. SMR 20 improved to ₹119.Sixty six (118.20) and Latex to ₹102.96 (one zero one.57) per kg at Kuala Lumpur.

Spot rubber charges (₹/kg): RSS 4:154 (153); RSS five: one hundred fifty (149); ISNR20: 138 (135) and Latex (60% drc): one hundred ten (109).

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