Physical rubber prices surrendered further on Tuesday. The market seemed to be expecting a sharp increase in arrivals during the ongoing peak production season. There were no genuine buyers in the commodity even at the prevailing levels.
Sheet rubber slid to Rs 160 (164) a kg, according to traders. The grade weakened to Rs 161 (164) a kg at Kottayam and Kochi as reported by the Rubber Board.
In futures, the December series weakened to Rs 163.75 (165.85), January to Rs 165.80 (167.87), February to Rs 167.70 (169.99) and March to Rs 169.75 (172.00) a kg for RSS 4 on the National Multi Commodity Exchange.
RSS 3 (spot) recovered marginally to Rs 165.17 (164.96) a kg at Bangkok. The December futures for the grade remained totally inactive during the day session, but then dropped to ¥248.90 (Rs 165.82) from ¥250 in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 160 (164); RSS-5: 156 (159); ungraded: 151 (154); ISNR 20: 157 (158.50) and latex 60 per cent: 107 (108).