Agri Business

Spot rubber rules static

Our Correspondent Kottayam | Updated on June 21, 2011




Spot rubber finished almost unchanged on Tuesday. The market was dull following a weak closing in domestic and international futures but it managed to limit losses and closed steady on supply concerns. The trend was partially mixed as ISNR 20 slipped further on buyer resistance and the overall sentiments still appeared bearish as the major consuming industries continued to remain inactive on RSS 4.

Sheet rubber closed flat at Rs 222.50 a kg, according to dealers. The grade slipped to Rs 222.50 (223.00) a kg both at Kottayam and Kochi, as reported by the Rubber Board.

The July series weakened to Rs. 219.31 (221.94) August to Rs. 221.21 (223.87), September to Rs. 220.00 (221.98), October to Rs.220.00 (220.65) and December to Rs. 221.50 (223.40), while the November series improved to Rs. 223.50 (221.50) per kg for RSS 4 on the National Multi Commodity Exchange.

RSS 3 (spot) dropped to Rs. 226.06 (227.72) a kg at Bangkok. The June futures moved down to ¥ 400.7 (Rs. 224.17) from ¥ 405.0 per kg during the day session and then to ¥ 400.0 (Rs. 223.81) in the night session on Tokyo Commodity Exchange.

Physical rates (Rs/kg) were: RSS-4: 222.50 (222.50); RSS-5: 220 (220); Ungraded: 218 (218); ISNR 20: 219 (221); and latex 60%: 139 (139).

Published on June 21, 2011

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