Physical rubber prices ruled weak on Monday. The market resumed the downward journey lacking technical and fundamental factors to support the prices even at lower levels probably as it is almost at the verge of the peak production season.
Reports from the global trend setters were also not promising and the gap between the domestic and international rates continued to haunt the overall sentiments.
Sheet rubber declined to Rs 172 at Kottayam and Kochi from Rs 174 and Rs 173 a kg respectively, according to traders and the Rubber Board. The trend was mixed.
The November series improved to Rs 173.50 (172.78), December to Rs 175.40 (174.21), January to Rs 177.81 (176.85) and February to Rs 179.95 (179.21), while the March series slipped to Rs 182.60 (182.63) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) weakened to Rs 160.75 (162.59) a kg at Bangkok. The November futures dropped to ¥232.9 (Rs 161.38) from ¥235.9 a kg during the day session, but then recovered to ¥235 (Rs 162.83) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 172 (174); RSS-5: 168 (170); ungraded: 163 (164); ISNR 20: 159 (159) and latex 60 per cent: 108 (108).
Keywords: Rubber rates