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Aravindan

Kottayam, June 4 Spot rubber rates surrendered further on Wednesday. Another weak closing in Japanese futures kept the market under pressure, sources said. RSS 4 declined to Rs 123 a kg from Rs 124 a kg on slightly improved selling from certain dealers and growers. Major manufacturers kept their revised quotes much lower at Rs 122 a kg for sheet rubber.

“The hike in diesel and petrol prices is one of the major concerns behind the day’s bearish sentiments as its impact would reflect widely over the whole economy”, an analyst said. RSS 3 weakened at its June contract to ¥314.6 (Rs 128.21) from ¥316.6, July to ¥316.7 (318), August to ¥317.1 (320), September to ¥316.4 (320.3), October to ¥316.6 (320.3) and November to ¥318.3 (321.6) a kg at TOCOM. The grade was firm at Rs 131.66 (131.22) a kg at Bangkok spot.

Spot prices were: RSS-4: 123 (124); RSS-5: 118 (119); ungraded: 113.50 (114); ISNR 20: 116 (117) and latex 60 per cent: 82 (82).

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