The Hindu Business Line : Spot rubber weakens

Kottayam, March 7 Spot rubber weakened on Friday. RSS 4 moved down to Rs 104 (105) a kg at Kottayam catalysed by the declines in global futures while the grade improved by 50 paise to Rs 104.50 a kg at Kochi. There has been no improved selling pressure in the main marketing centres even at higher rates and the market slipped merely on buyer resistance, sources confirmed. The trend was mixed.

Rubber futures on the Tokyo Commodity Exchange lost further ground ridden by yen’s strength against dollar. RSS 3 fell sharply at its April futures to ¥286 (Rs 113.87) from ¥294.7 a kg while the grade’s spot closed at Rs 115.52 (115.50) a kg at Bangkok.

Futures steady

The domestic rubber futures was almost steady on NMCE. The March contract concluded the session at Rs 103.95 (104.12), April at Rs 107.04 (106.99), May at Rs 108.60 (109.06) and June at Rs 110.50 (110.48) per kg for RSS 4.The volumes fell to 1,512 (2,473) lots with286 (645) lots in March, 815 (1,374) lots in April, 267 (340) lots in May and 144 (114) lots in June. The open interest was at 6,973 (6,923) tonnes with 3,229 (3,315) tonnes in March, 2,359 (2,325) tonnes in April, 841 (781) tonnes in May and 544 (502) tonnes in June.

Spot prices were (Rs/kg): RSS-4: 104 (105); RSS-5: 102 (102); ungraded: 100 (100.50); ISNR 20: 101 (101) and latex 60 per cent: 73 (73).

More Stories on : Rubber

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

Stories in this Section
Check on exports

Westerly systems may combine to pack a punch

Sinking fields

Cold spell, rains hit chana crop

Inflation at 5.02%, breaches RBI’s tolerance limit

Inflation rate crosses 5% as food items turn dearer

CDS to have centre of excellence in plantation economy

Budget belies hopes of plantation sector: APK

Spot rubber weakens

Sharp fall in pepper futures