The Hindu Business Line : Spot rubber under pressure

THE spot rubber market continued to remain under pressure on Friday. All-round selling from traders during the first half of the session depressed the sentiments in the absence of quantum buyers.

While the major grades dipped, latex closed unchanged since the processors were not willing to sell low. Sheet rubber closed at Rs 52 against Rs 52.75 on Thursday.

The rubber futures turned steady quoting the September delivery at Rs 53.60 (53.60) a kg on Friday. The near-month October delivery was quoted at Rs 51.45 (51.42), November delivery at Rs 51.11 (51.15) and December delivery at Rs 51.10 (51.10) per kg for RSS 4.The transactions were in a low key.

At Bangkok, RSS 3 closed steady at Rs 56.61 consecutively for the third day. The TOCOM September futures for RSS 3 improved to 138.6 yen from 137.2 yen a kg on Thursday.

The spot market rates per kg on Friday were as follows: RSS 4 Rs 52 (52.75); RSS 5 Rs 50 (51); ungraded Rs 48 (48.25); ISNR 20 Rs 48 (48.25); latex 60 per cent Rs 37 (37).