Agri Business

Spot rubber declines on global cues

Aravindan Kottayam | Updated on August 16, 2011 Published on August 16, 2011

rubber





Domestic rubber prices declined further on Tuesday. On the spot, prices lost strength as buyers stayed away, following declines in the domestic and international futures. “We are expecting an all-round selling pressure in the market once RSS 4 break the immediate support level of Rs 200 a kg,” an observer said. Volumes were better.

Sheet rubber weakened to Rs 200 (202.50) a kg, according to traders. The grade dropped to Rs 201 (203) a kg both at Kottayam and Kochi, as reported by the Rubber Board.

The September series weakened to Rs 198.70 (201.56), October to Rs 197.45 (200.72), November to Rs 197.50 (200.90), December to Rs 198 (202.58) and January to Rs 200.50 (204.00) while the February series finished the debut trading session at Rs 201 a kg for RSS 4 on the National Multi Commodity Exchange.

The August futures moved down to ¥353 (Rs 208.92) from ¥356.8 during the day session and then to ¥351 (Rs 207.75) a kg in the night session on the Tokyo Commodity Exchange. RSS 3 (spot) slipped to Rs 211.88 (212.83) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 200 (202.50); RSS-5: 195 (199); ungraded: 185 (191); ISNR 20: 197 (202) and latex 60 per cent: 130 (132).

Published on August 16, 2011
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