Agri Business

Spot rubber weak on buyer resistance

| Updated on: Jan 01, 2014

Rubber prices turned weak on Wednesday.

Most counters in the spot market remained under pressure on buyer resistance following the declines on National Multi Commodity Exchange.

According to observers, the domestic futures were down, mainly on profit booking at higher levels.

The sentiments were also affected by the long holidays in the global markets and the absence of genuine buyers in the local scene.

Sheet rubber dropped to Rs 163.50 (Rs 164) a kg at Kottayam and Kochi, according to traders and the Rubber Board.

The grade slid to Rs 160.50 (Rs 161) as reported by the dealers.

Volumes were low.

January futures declined to Rs 162.79 (Rs 165.50), February to Rs 165.35 (Rs 167.97) and March to Rs 168.14 (Rs 170.52) while the April, May and June futures remained inactive on the NMCE.

Spot rubber rates Rs/kg were: RSS-4: 163.50 (164); RSS-5: 156.50 (157); Ungraded: 151.50 (152); ISNR 20: 160 (160) and Latex 60%: 125 (125).

Published on January 01, 2014

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