Physical rubber prices surrendered further gains on Tuesday.

Overall weakness in the domestic and international futures kept the commodity under pressure during the day.

The absence of buyers and the repeated warnings over the slowdown in global demand coupled with renewed gains in yen were the other critical factors which influenced the market mood on late trading hours.

Sheet rubber dropped to Rs 178.50 (179) a kg, according to traders. The grade slid to Rs 179 (180) a kg both at Kottayam and Kochi, according to Rubber Board.

The August series weakened to Rs 176.50 (177.62), September to Rs 172.31 (174.12), October to Rs 172.36 (173.61), November to Rs 172.89 (174.19) and December to Rs 185.27 (191) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) declined to Rs 161.83 (164.59) a kg at Bangkok. The August series improved to ¥216.2 (Rs 152.28) from ¥215.3 a kg during the day session but then dropped to ¥214.1 (Rs 150.81) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 178.50 (179); RSS-5: 172 (173); ungraded: 165 (165.50); ISNR 20: 163 (163.50) and latex 60 per cent: 121 (122).

(This article was published on August 7, 2012)
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