The Hindu Business Line : Sharp decline in rubber prices

SPOT rubber declined sharply on Wednesday. Improved arrivals on favourable weather conditions hammered the prices as most of the buyers preferred to keep on the sidelines.

Some tyre companies continued to procure sheet rubber at the prevailing rates but the market indicator closed extremely weak at Rs 55 and Rs 55.25 a kg against Rs 56 and Rs 55.50 respectively at Kottayam and Kochi. Futures turned weak even amidst a positive TOCOM closing. The September delivery contract was quoted at Rs 55.70 (Rs 56.39), October at Rs 54.99 (Rs 55.42), November at Rs 54.35 (Rs 54.52) and December contract at Rs 54.35 (Rs 54.55) a kg for RSS 4.

The September futures for RSS 3 closed at 173.3 yen against 171.4 yen at TOCOM. The grade improved to Rs 67.10 from Rs 66.83 a kg at Bangkok.

The per kg spot rubber prices were as follows: RSS-4 Rs 55 (Rs 56); RSS-5 Rs 53 (Rs 53.50); ungraded Rs 50.00 (Rs 50.50); ISNR 20 Rs 52 (Rs 52.50) and latex 60 per cent Rs 37.50 (Rs 37.50)

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