Spot rubber closed lower on Wednesday. The market opened steady but lost the initial strength tracking declines in domestic futures on MCX. Sentiments were further dampened by the negative reports from overseas markets.
RSS 4 weakened to Rs.155.00 (156.00) per.kg, according to traders and the Rubber Board. The grade dropped to Rs.151.00 (152.00) per kg as quoted by the Dealers.
In futures, the near month January 2021 delivery surrendered to Rs.154.30 (157.83) per kg on the Multi Commodity Exchange (MCX).
RSS 3 (spot) slid to Rs.157.35 (158.76) per kg at Bangkok. SMR 20 weakened to Rs.108.47 (109.09) and Latex to Rs.102.72 (103.82) per kg at Kuala Lumpur.
The rubber futures ended in red in day time trading on Shanghai Futures Exchange (ShFE). The natural rubber contract for January 2021 delivery was down by 200 Yuan (Rs.2,243.78) to close at 13545 Yuan (Rs.151,960.13) a tonne.
Spot rubber rates (Rs/kg) were: RSS4:155.00 (156.00); RSS5: 144.00(145.00); ISNR20: 126.00 (127.00) and Latex (60% drc): 103.50 (103.50).