Comments
Domestic rubber prices ruled weak on Wednesday. It remained under pressure following sharp declines in international markets.
On the spot, sentiments were further dampened by another weak closing on the National Multi Commodity Exchange (NMCE).
However, as climatic conditions improved favouring tapping and production, more supplies are expected from major rubber-growing areas that may limit sharp gains during the season. The trend was partially mixed.
Sheet rubber dropped to Rs 209.50 (210) a kg, according to traders.
The grade slipped to Rs 210.50 (211) a kg both at Kottayam and Kochi, according to the Rubber Board.
In futures, the October series weakened to Rs. 210.10 (212.78), November to Rs. 207.00 (209.83), December to Rs. 207.49 (209.77), January to Rs. 208.50 (210.92) and February to Rs.209.05 (211.04) per kg for RSS 4 on the NMCE.
RSS 3 (spot) moved down to Rs 210.80 (214.54) a kg at Bangkok.
The October futures for the grade declined to ¥ 298.3 (Rs. 190.31) from ¥ 310.6 a kg during the day session but then recovered marginally to ¥ 300.8 (Rs. 191.91) a kg in the night session on Tokyo Commodity Exchange.
Spot rubber rates (Rs/kg) were : RSS-4: 209.50 (210); RSS-5: 207 (207); ungraded: 198 (198); ISNR 20: 206 (207); and Latex 60%: 132.50 (133).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.