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Physical rubber market fell further on Friday. Broad declines in the domestic and international futures weighed on the prices on early trades while the selling from dealers kept the commodity under pressure during closing hours. The technical outlook was weak as RSS 4 stayed below the Rs 200 level consecutively for the second day and the market is expected to seek further lows in the days ahead, an analyst said.
Sheet rubber moved down to Rs 197 (198) a kg according to traders. The grade closed weak at Rs 198.50 (200) a kg both at Kottayam and Kochi as reported by the Rubber Board.
The September series weakened to Rs 197.16 (199.11), October to Rs 194.50 (197.09), November to Rs 194.40 (197.23), December to Rs 194.52 (198.01) and January to Rs 197.01 (199.28) a kg for RSS 4 on the National Multi Commodity Exchange.
The August futures dropped to ¥348 (Rs 208.05) from ¥354.3 a kg during the day session abut then recovered partially to ¥350 (Rs 209.25) in the night session on the Tokyo Commodity Exchange. RSS 3 (spot) slipped to Rs 211.07 (211.13) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 197 (198); RSS-5: 190 (193); ungraded: 180 (182); ISNR 20: 194 (195) and latex 60 per cent: 129 (130).
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