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Rubber prices turned weak on Monday. The spot market slipped reacting to the decline in domestic and international futures. According to observers, prices fell mainly on buyer resistance, rather than selling by dealers or growers. The trend was partially mixed as latex 60 per cent improved on better demand.
Sheet rubber dropped to Rs 238 a kg (Rs 239), according to traders. The grade slipped to Rs 239 a kg (239.50) both at Kottayam and Kochi, according to the Rubber Board.
In futures, the May series weakened to Rs 240.40 (Rs 243.31), June to Rs 244.53 (Rs 247.32), July to Rs 243.50 (Rs 247.20), August to Rs 238 (Rs 240.75) and September to Rs 231.51 (Rs 235) a kg for RSS-4 on the National Multi-Commodity Exchange.
RSS-3 (spot) closed at Rs 261.94 a kg at Bangkok. The April futures declined to ¥450 (Rs 241.59) from ¥ 464.2 a kg during the day session, but remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rates (Rs/kg): RSS-4: 238 (239); RSS-5: 234 (236); Ungraded: 231 (232); ISNR 20: 234 (235); and latex 60 per cent: 146(143).
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