Global output and consumption, too, declineSpot rubber was steady despite a firm closing in global trendsetters on Monday. RSS-4 closed unchanged at ₹157 a kg, according to traders and the Rubber Board. The grade finished flat at ₹153, according to dealers.
As per reports, the world production of natural rubber (NR) fell by 8.5 per cent, year-over-year, to 10.098 million tonnes (mt) during January-October. Expecting a 10.8 per cent, year-over-year, drop during November-December, the production during the full year 2020 is expected at 12.597 mt — down 9 per cent from the previous year.
The world consumption of NR fell by 8.6 per cent, year-over-year, to 10.496 mt during January-October 2020. Accounting an anticipated 1.2 per cent increase during November-December, the consumption during the full year 2020 is expected at 12.811 mt — down 6.9 per cent from the previous year.
Natural rubber futures closed higher in day time trading on Shanghai Futures Exchange (ShFE). The near month January 2021 delivery was up by 165 Yuan (₹1855.06) to close at 14,315 Yuan (₹160,940.28) a tonne.
RSS-3 (spot) improved to ₹167.29 (165.08) per kg at Bangkok. SMR 20 firmed up to ₹116.35 (114.28) but Latex weakened to ₹107.93 (108.46) per kg at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS-4:157 (157); RSS-5: 147 (147); ISNR20: 130 (130) and Latex (60% drc): 106 (106).
