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Physical rubber prices turned weak on Tuesday. The market edged lower mainly on buyer resistance. There was no renewed selling pressure in the market though the reports on increasing production and imports pointed to further decline in prices. Meanwhile car sales of major companies recorded a sharp drop in the month of July following the hike in interest rates and escalating fuel costs raising further concerns over the demand. Sheet rubber moved down to Rs 207 from Rs 208 and 207.50 respectively according to traders and the Rubber Board. The trend was partially mixed.
In futures, the August series improved to Rs 207.65 (206.62), September to Rs 207.09 (206.08), October to Rs 207 (206.03), November to Rs 208 (207.26) and December to Rs 209.99 (208.55) while the January series slipped to Rs 211.50 (212.90) a kg on National Multi Commodity Exchange (NMCE). RSS 3 (spot) slipped to Rs 216.03 (216.47) a kg at Bangkok. The August futures weakened to ¥ 379.01 (Rs 217.05) from ¥ 382.0 per kg during the day session and then to ¥ 377.1 (Rs 215.93) in the night session on Tokyo Commodity Exchange (TOCOM).
The spot rubber rates in Rs per kg were: RSS-4: 207.00 (208.00), RSS-5: 204.00 (205.00), Ungraded: 198.00 (197. 50), ISNR 20: 206.00 (206.00), and Latex 60 per cent: 133.50 (135.00)
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