Comments
Physical rubber prices declined on Tuesday. The market lost ground mainly following the sharp falls in the trend setting Japanese indices. The gap between the domestic futures on the National Multi Commodity Exchange (NMCE) and the overall bearish sentiments kept the commodity under pressure during the day.
Sheet rubber closed weak at Rs 179 (180) a kg, according to traders. The grade dropped to Rs 179.50 (180) a kg at Kottayam and Kochi, as quoted by the Rubber Board.
The August series improved to Rs 176.60 (175.70), September to Rs 175.90 (174.72), October to Rs 175.80 (175.53) and November to Rs 175.50 (175.20) a kg for RSS 4 on the NMCE.
The Key TOCOM rubber futures fell to the lowest in more than two and a half years, tracking the falls in oil and other commodities on concerns that lingering European debt crisis could curb the demand for the materials. Traders remained cautious after Moody’s downgraded the outlook for Germany, delivering a stark warning that not even Europe's largest and most pivotal economy was immune from the rolling crisis.
RSS 3 (spot) weakened to Rs 168.93 (171.71) a kg at Bangkok. The July futures declined to ¥215.5 (Rs 154.66) from ¥223 during the day session and then to ¥210.5 (Rs 151.07) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 179 (180); RSS-5: 173.50 (175); ungraded: 167 (168.50); ISNR 20: 169 (172) and latex 60 per cent: 129 (129.50).
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.