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Spot rubber rules weak

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Physical rubber prices were weak on Tuesday. The gap between the local and international rates and the absence of buyers from the major consuming industries continued to depress the market mood. There was no selling pressure in the commodity following a partial recovery in domestic futures, but it lost further amidst scattered transactions. Volumes were low.

Sheet rubber declined to Rs 174 (Rs 175) a kg, according to traders. The grade dropped to Rs 174.50 (Rs 175.50) a kg at Kottayam and Kochi, as quoted by the Rubber Board. The Nov contracts improved to Rs 176.28 (Rs 174.47), Dec Rs 178.20 (Rs 176.09), Jan Rs 80.50 (Rs 178.87), Feb Rs 182.99 (Rs 181.83) and April to Rs 186.70 (185.18) a kg, while the March futures remained inactive on the National Multi Commodity Exchange.

RSS 3 (spot) slipped to Rs 160.61 (Rs 161.02) a kg at Bangkok. The Nov futures weakened to ¥237 (Rs 160.78) from ¥238.5 a kg during the day session but then recovered marginally to ¥238 (Rs 161.46) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 174 (175); RSS-5: 170 (171); ungraded: 165 (165); ISNR 20: 159 (160) and latex 60 per cent: 115 (116).

(This article was published on November 6, 2012)
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