The Hindu Business Line : Spot rubber slips on selling pressure

Kottayam, Sept. 18 Rubber prices slipped further or Thursday. Most of the players were inactive as selling from dealers and growers continued to put pressure on the prices though the market lost almost Rs 5.50 a kg from higher levels during the past few sessions.

RSS 4 weakened to Rs. 135.50 from Rs 136 a kg on Wednesday. The volumes were low. The quotes from the major manufacturers were even below at Rs 135 a kg for sheet rubber as they were not interested to procure the raw material during a bearish phase.

Futures mixed

Meanwhile, a mixed trend in international futures failed to make any visible impact in the domestic scene and the market made all-round declines in the absence of fresh buying from the consuming sector. The September contract for RSS 3 closed at ¥330.8 (Rs 146.52) against ¥319.6, October at ¥318.4 (308), November at ¥309.5 (301.2), December at ¥295.4 (293.1), January at ¥287.7 (288.5) and February at ¥286.3 (286.1) a kg at TOCOM. The grade slipped to Rs 133.97 (134.22) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 135.50 (136); RSS-5: 133 (134); ungraded: 129 (129.50); ISNR 20: 126.50 (127) and latex 60 per cent: 78 (79).

More Stories on : Rubber

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

Stories in this Section
Rain deficit gets cut back to 2%

Maternity Benefit Act directly applicable to plantation labour, rules HC

Pay special attention to fertiliser supply, AP Collectors told

Spot rubber slips on selling pressure

Campco wants to enter rubber segment

Small growers seek representation on Tea Board

Pepper futures recover on buying support

Quality fears grip tea sector as exports rise