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Aravindan

Kottayam, Nov. 12 Rubber prices slipped further on Wednesday. RSS 4 moved down to Rs 84 from Rs 84.50 a kg on buyer resistance amidst selling from growers and dealers. Major manufacturers were buyers on the grade at the quoted level though the international futures were partially bearish. The volumes were moderate.

Rubber futures on the Tokyo Commodity Exchange remained weak despite a late morning rally. The market extended losses at the opening as profit booking became dominant on early trades amidst Yen’s strength against dollar and declines in oil and precious metals futures. But covering purchases became active later, reflecting yen’s decline against dollar. RSS 3 weakened at its November contract to ¥172.6 (Rs 87.40) from ¥175.9, February to ¥175.6 (176.5), March to ¥179 (179.5) and April to ¥181.4 (181.8) while its December futures recovered marginally to ¥172.4 (171.8) and January to ¥174.5 (174.2) a kg at TOCOM.

Spot rates were (Rs/kg): RSS-4: 84 (84.50); RSS-5: 80 (82) ungraded: 78 (80); ISNR 20: 81 (81) and latex 60 per cent: 58 (58).

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