Domestic rubber markets ruled weak on Wednesday. In the spot market, prices slipped mainly on buyer resistance following another weak closing on the National Multi Commodity Exchange (NMCE).

Similar declines in the Japanese futures and the absence of positive factors to stimulate the sentiments kept the market under pressure on late trading hours.

Sheet rubber surrendered to Rs 184 (185) a kg at Kottayam and Kochi, according to Traders and the Rubber Board. The trend was partially mixed.

The August series slipped to Rs 180.38 (181..31), September to Rs 179.47 (180.78), October to Rs 178.60 (179.86) and November at Rs 178 (180.40) a kg for RSS 4, while the most distant months remained inactive on the NMCE.

RSS 3 (spot) firmed up to Rs 173.75 (172.70) a kg at Bangkok. The July futures dropped to ¥234.5 (Rs 164.51) from ¥238.6 during the day session but then recovered partially to ¥236.1 (Rs 165.68) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 184 (185); RSS-5: 178 (179); ungraded: 173 (173.50); ISNR 20: 178 (179) and latex 60 per cent: 131 (131).

(This article was published on July 18, 2012)
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