Domestic rubber prices turned weak on Wednesday. On the spot, the market lost ground in tune with declines on the National Multi Commodity Exchange (NMCE). The sentiments were also affected partially by the weakness in international futures. Traders preferred to wait and watch till the prices stabilise after the ongoing corrective phase. Transactions continued to be low indicating short supplies.
Sheet rubber moved down to Rs 237.50 (240) a kg, according to traders. The grade closed at Rs 238.50 (239.50) a kg both at Kottayam and Kochi, according to the Rubber Board.
In futures, the May series weakened to Rs 236.79 (242.68), June to Rs 240.80 (247.04), July to Rs 241.37 (247.98), August to Rs 234.65 (239.55) and September to Rs 230.75 (232.53) a kg for RSS 4 on the NMCE.
RSS 3 (spot) surrendered to Rs 250.95 (254.38) a kg at Bangkok. The May futures declined to ¥430 (Rs 232.42) from ¥435.5 a kg during the day session but then to ¥429.7 (Rs 232.20) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 237.50 (240); RSS-5: 234 (236); ungraded: 230 (232); ISNR 20: 231.50 (233) and latex 60 per cent: 146 (147).
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