Covid second wave saps rubber
April 19, 2021
Sheet rubber slips to ₹164/kg Spot rubber fell in tandem with the heavy losses in domestic futures on Monday. The second wave of Covid-19 is getting worse, making both stock and commodity markets more risky.
The re-imposition of lockdowns in highly infected areas and the sharp decline in investors’ wealth have affected trading in commodities very badly.
RSS-4 declined to ₹164 (166.50) per kg, according to traders and the Rubber Board. The grade finished flat at ₹159 (161.50), according to dealers. The volumes were low.
In futures, the front month April delivery shed 4.78 per cent from Friday’s settlement price to close at ₹157.25 per kg with a volume of 82 lots on the Multi Commodity Exchange (MCX).