The Hindu Business Line : Spot rubber prices turn weak

Kottayam June 25 Spot rubber weakened on Monday. There was still selling pressure from traders who held excess stocks or fear further fall, but the market lacked genuine buyers even at these levels, an observer said. RSS 4 moved down to Rs 77.75 and Rs 77.50 a kg from Rs 78 and Rs 78.50 a kg respectively at Kottayam and Kochi. The volumes were dull.

Futures decline

The futures continued to rule weak ridden by domestic fundamentals rather than global influence. On National Multi Commodity Exchange, the last traded price for July declined to Rs 77.90 (78.79), August to Rs 78.81 (79.88), September to Rs 78.10 (79) and October to Rs 78.21 (78.74) per kg for RSS 4. The transactions totalled 1,742 (988) tonnes.

On MCX, the July contract settled down at Rs 79 against Rs 79.52 a kg on the previous weekend. RSS 3 (spot) shed 15 paise and closed at Rs 89.63 a kg at Bangkok. But the grade improved at its July futures to 269.5 Yen (Rs 88.87) from 267.1 Yen a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 77.75 (78); RSS-5: 76.50 (76.75); ungraded: 74.75 (75); ISNR 20: 76 (76.25) and latex 60 per cent: 58.40 (58.95).

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