The Hindu Business Line : Rubber prices drop on lack of buying support

Kottayam, June 12 The rubber market lost its steam once again as TOCOM rubber futures made sharp declines on Thursday. RSS 4 finished weak at Rs 127 a kg against Rs 128 a kg lacking follow-up support from traders. There was no considerable increase in trading volumes and the trend was mixed as ISNR 20 and latex 60 per cent remained unchanged with thin volumes.

There were no fresh enquiries from the tyre sector or the non-tyre sector, sources confirmed.

Japanese trend

Even a firm closing at Rs 141.49 (139.82) a kg for RSS 3 (spot) at Bangkok failed the cheer the domestic players as the trend setting Japanese indices were under immense pressure on late trading.

RSS 3 fell sharply at its the June contract to ¥331.3 (Rs 131.87) from ¥341.5, July to ¥332 (340.9), August to ¥332.9 (341.5), September to ¥330.8 (340.6), October to ¥330.9 (342.1) and November to ¥332 (343.7) a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 127 (128); RSS-5: 124 (125); ungraded: 120 (121); ISNR 20: 122 (122) and latex 60 per cent: 85.50 (85.50).

More Stories on : Rubber

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Monsoon ahead of time, evenly spread

Agro-chemicals — Overhaul of regulations called for

Rubber prices drop on lack of buying support

Gorkhaland stir halts movement of tea from Bengal

Tea producers agree on setting up global forum

Firm trend at Kochi tea auction

Supply shortage

Ad hoc Rs 850/quintal support price for paddy

Jeera futures gain on short supply