The Hindu Business Line : Marginal fall in spot rubber prices

SPOT rubber lost marginally on buyer resistance. The covering groups and purchase agents kept a low profile observing slight improvement in weather conditions.

Meanwhile, certain dealers and growers preferred to sell the stock at higher levels as most of the overseas indices turned weak.

Sheet rubber RSS 4 declined to Rs 64.75 and Rs 64.50 a kg, respectively in Kottayam and Kochi from Rs 65 on Tuesday.

The trend was mixed as ungraded rubber and ISNR-20 remained flat, while the other grades lost on all-round selling pressure.

The NMCE rubber futures turned weak on profit booking. The July contract was quoted at Rs 64.10 (64.45), August Rs 64.18 (65.47), September Rs 62.07 (63.36) and October contract at Rs 59.68 (60.73) per kg for RSS 4.

The volumes totalled at 1,617 lots with 55 lots in July, 1,211 in August, 296 in September and 55 lots in October till mid-session.

The August futures for RSS 3 declined to 191.7 yen from 192.8 yen at TOCOM.

The grade improved further to Rs 71.92 from Rs 71.27 a kg at Bangkok.

The physical rubber prices per kg were: RSS-4: 64.75 (65); RSS-5: 62 (62.50); ungraded: 60 (60); ISNR 20: 59 (59); and latex 60 per cent: 41.50 (42).

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