Spot rubber turned weak on Friday. The market lost ground mainly on buyer resistance following the overall weakness in the commodity across the board. Most of the traders were either partially or fully inactive as the prices were showing signs of at least a short term bear phase. Volumes continued to be narrow and the trend was mixed.
Sheet rubber declined to Rs 187 (190) a kg, according to traders. The grade weakened to Rs 188.50 (189) a kg both at Kottayam and Kochi, according to the Rubber Board.
The January series closed at Rs 190 (190.23), February at Rs 193.45 (193.79), March at Rs 197.10 (197.87), April at Rs 203.85 (204.71), May at Rs 207.50 (207.50) and June at Rs 201.60 (201.44) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) slipped to Rs 177.47 (177.77) a kg at Bangkok. The January futures for the grade dropped to ¥260 (Rs 174.33) from ¥262 a kg during the day session and then to ¥257.6 (Rs 172.72) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 187 (190); RSS-5: 181 (182); ungraded: 177 (179); ISNR 20: 183 (183) and latex 60 per cent: 107 (107).