The Hindu Business Line : Rubber unchanged on weak demand

Market continued to experience supply crunch as growers were not interested to sell their stocks while the top production season is at its concluding phase. Though negative signals from the overseas markets persuaded buyers to stay on the sidelines, the confidence of growers rescued the market from further fall.

The NMCE was weak quoting the January delivery at Rs 54.75 (Rs 55.02) a kg with average volumes. The near month February delivery was quoted at Rs 55.80 (Rs 56.24), March delivery at Rs 56.80 (Rs 57.21) and April delivery at Rs 58 (Rs 58.21) per kg for RSS 4.

At TOCOM, the February futures for RSS 3 declined to 126.5 yen against 127.9 yen a kg while the same grade lost 63 paise to close at Rs 51.34 at Bangkok.

According to sources, the Tokyo Commodity Exchange switched over to online trading from the traditional floor trading system from Tuesday.

The spot rubber rates were: RSS 4 Rs 54.75 (Rs 54.75); RSS 5 Rs 52.50 (Rs 52.50); ungraded Rs 51 (Rs 51); ISNR 20 Rs 52.25 (Rs 52.25) and latex 60 per cent at Rs 42 (Rs 42).

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