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Rubber slips on weak cues

Our Correspondent
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The rubber market finished weak on Friday. Declines in the domestic futures and the trendsetting international markets kept the sentiments subdued during the day.

Though sheet rubber continued to reel under pressure on buyer resistance, the grade managed to sustain at the prevailing levels on supply concerns. The trend was mixed amidst low volumes.

Sheet rubber was quoted steady at Rs 164 a kg, according to traders. The grade finished unchanged at Rs 164.50 a kg both at Kottayam and Kochi as reported by the Rubber Board.

The April series declined to Rs 158.40 (161.64), May to Rs 160.30 (164.42), June to Rs 160 (164.25), July to Rs 159.56 (163.97) and August to Rs 159.60 (164.33) a kg on National Multi Commodity Exchange (NMCE).

RSS 3 (spot) dropped to Rs 152.52 (153.46) a kg at Bangkok. The April futures weakened to ¥242 (Rs 138.15) from ¥246 a kg during the day session but then bounced back to ¥245.5 (Rs 140.14) in the night session on Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg):RSS-4: 164 (164); RSS-5: 161 (162); Ungraded: 156 (157); ISNR 20: 157 (160) and Latex 60 per cent: 110 (110)

(This article was published on April 5, 2013)
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