The Hindu Business Line : Spot rubber turns weak

Kottayam, Aug. 1 The rubber prices turned weak on Friday. Declines in international indices coupled with profit booking from dealers at higher levels took the steam out of the market.

RSS 4 moved down to Rs 141 a kg from Rs 142 a kg amidst improved volumes. The domestic rubber opened better and certain buyers from the tyre sector bought sheet rubber up to Rs 142 a kg in the morning session.

Later, the prices surrendered as the global futures moved in to the negative side. Covering groups remained inactive during the afternoon session expecting the prices to retreat towards close.

In global futures, RSS 3 weakened at its August contract to ¥333.8 (Rs 131.02) from ¥336.4, September to ¥329.5 (¥333.8), October to ¥327.5 (¥332.9), November to ¥326.2 (¥332.1), December to ¥324.8 (331.3) and January to ¥325.8 (¥332.5) a kg at TOCOM. The grade (spot) slipped further to Rs 133.67 (133.83) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 141 (142); RSS-5: 138.50 (139); ungraded: 134 (136); ISNR 20: 137 (137.50) and latex 60 per cent: 89 (90).

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