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Rains, slack industrial demand sap spot rubber

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Physical rubber prices were weak on Monday. Though sluggish demand from the tyre sector weighed over the market, occasional disruption in tapping owing to overnight rains and restricted arrivals provided firm support at lower levels keeping the prices in a tight range. The trend was partially mixed.

Sheet rubber was unchanged at Rs 186 a kg according to traders. The grade slipped to Rs 185.50 (186) a kg both at Kottayam and Kochi as reported by the Rubber Board.

In futures, the August series closed at Rs 183.10 (183.03), September at Rs 182.15 (181.68), October at Rs 180.90 (181.14) and November at Rs 180.78 (180) a kg while the December series remained inactive on the National Multi Commodity Exchange.

The international markets were mostly firm following a drop in supplies from the top rubber producing countries. Meanwhile, the trend setting Tokyo Commodity Exchange remained closed on account of Ocean Day. RSS 3 (spot) slipped to Rs 173.15 (173.26) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 186 (186); RSS-5: 179.50 (180); ungraded: 174 (174); ISNR 20: 179 (180) and latex 60 per cent: 131 (132).

(This article was published on July 16, 2012)
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