The Hindu Business Line : Spot rubber prices weaken

SPOT rubber weakened as buyers preferred to maintain thin volumes. The absence of major manufacturers who seem to be comfortable with imports put further pressure on the market activities.

Fears on better arrivals even amidst monsoon due to widespread usage of rain guards kept the sentiments slightly weak.

RSS4 declined sharply to Rs 63 and Rs 63.25 respectively at Kottayam and Kochi from Rs 64 a kg on Thursday. ISNR 20 and latex remained inactive while all major grades lost on poor support.

The NMCE futures moved down further on Friday. The June contract was quoted at Rs 62.55 (Rs 63.41); July contract at Rs 64.05 (Rs 64.77); August contract at Rs 62.21 (Rs 62.58); and September contract at Rs 59.60 (Rs 59.96) a kg for RSS 4. The volumes improved trading 185 lots in June and 473 lots in July till mid-session while the market appeared to be in a seller's mode.RSS 3 was steady at Rs 63.56 a kg at Bangkok. At TOCOM, the July futures for RSS 3 improved to160 yen a kg from 158.4 yen. The spot rubber prices a kg were: RSS-4: Rs 63 (Rs 64); RSS-5: Rs 61.25 (Rs 62); ungraded: Rs 59 (Rs 60); ISNR 20: Rs 58 (Rs 58.50); and Latex 60%: Rs 40.50 (Rs 41).

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