The Hindu Business Line : Rubber weakens on nervous selling

THE rubber market weakened on Monday. RSS 4 declined to Rs 54 a kg from Rs 54.50 on Saturday. All the grades lost on nervous selling from growers and traders but latex remained unchanged on low supply.

Expecting further fall in prices, buyers were waiting on the sidelines while the arrivals improved marginally due to clear climatic conditions. The Bangkok market moved down quoting RSS 3 at Rs 63.28 against Rs 63.51 a kg on Friday.

The futures market recorded sharp losses on Monday quoting the near-month December delivery at Rs 56.45 (Rs 57.90), January delivery at Rs 56.50 (Rs 58.80) and February delivery at Rs 58.55(Rs 60.92) per kg for RSS 4. After a steady opening the market declined on selling pressure as the report from the world market was found disappointing.

The spot market rates per kg on Monday were as follows: RSS 4 Rs 54 (Rs 54.50); RSS 5 Rs 52.50 (Rs 52.75); ungraded Rs 50 (Rs 50.50); ISNR 20 Rs 52.50 (Rs 52.75); latex 60 per cent Rs 42.50 (Rs 42.50)

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