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Physical rubber prices turned weak on Wednesday. There has been no visible selling pressure from dealers or growers and the market lost ground on buyer resistance. Even though the fall in the prices were limited on supply concerns due to widespread north east monsoon rains, sentiments remained under pressure owing to declining international markets, slowing auto sales and rising interest rates. The transactions were dull. Meanwhile the recent dip in natural rubber prices is expected to be a major issue in the ANRPC's annual conference in China.
Sheet rubber moved down to Rs 210 (212) a kg according to traders. The grade dropped to Rs 209.50 (211.50) a kg both at Kottayam and Kochi as per Rubber Board.
The November series closed at Rs 211.50 (210.05), December at Rs 209.85 (209.84), January at Rs 210.70 (210.77), February at Rs 210.90 (211.15) , March at Rs 212.89 (212.50) and April at Rs 215.30 (215.50) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) declined sharply to Rs 186.92 (194.82) a kg at Bangkok. The November futures weakened to ¥285.4 (Rs 180.15) from ¥291.4 a kg during the day session but then recovered partially to ¥287 (Rs 181.17) a kg in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 210 (212); RSS-5: 208 (210); ungraded: 200 (202); ISNR 20: 198 (200) and latex 60 per cent: 128 (128.50).
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