The Hindu Business Line : Mixed trend in rubber prices

Sheet rubber finished in the red at Rs 94 (Rs 94.50) a kg both at Kottayam and Kochi as the domestic and global factors continued to put pressure on the prices.

The physical rubber prices showed a mixed trend amidst dull volumes. According to observers, certain tyre companies were buyers on the grade at the quoted level till Wednesday but they withdrew their quotes later on Thursday once the market lost ground on international clues.

Futures weaken

The December futures for RSS 4 weakened to Rs 96.15 from Rs 96.50 a kg on MCX. The grade declined at its December futures to Rs 96.68 (Rs 97.25), January to Rs 98.10 (Rs 98.75), February to Rs 99.26 (Rs 100.02) and March futures to Rs 101.34 (Rs 101.90) per kg on NMCE.

The volumes totalled 1,343 (1,619 ) lots and open interest 5,778 ( 5,531) lots. The outstanding positions were 1,782 (1,697) tonnes in December, 2,299 (2,186) tonnes in January, 1,399 (1,346) tonnes in February and 298 (302) tonnes in March.

The December futures for RSS 3 fell further to 258.3 yen (Rs 94) from 260.4 yen a kg at TOCOM. Its spot slipped by 38 paise to Rs 97.57 a kg at Bangkok.

The spot rubber prices were (Rs/kg): RSS-4 94 (94.50); RSS-5 90.50 (91.00); Ungraded 86 (86.50); ISNR 20 89.50 (89.50) and Latex 60% 62.50 (62.50).