Agri Business

Spot rubber declines on global cues

Aravindan Kottayam | Updated on November 07, 2011

rubber

Spot rubber declined on Monday. The market surrendered mainly on buyer resistance tracking the losses in intentional futures. Meanwhile the Key Tokyo rubber futures fell more than 3 per cent following the news that floods in Thailand have spread further into industrial provinces which host major automotive plants. The National Multi Commodity Exchange remained closed owing to Id-ul-Zuha (Bakrid).

Sheet rubber moved down to Rs 202 (205.50) a kg according to traders. The grade closed weak at Rs 202.50 (205) a kg both at Kottayam and Kochi as quoted by the Rubber Board.

RSS 3 (spot) weakened to Rs 183.17 (186.27) a kg at Bangkok. The November futures dropped to ¥279.3 (Rs 175.34) from ¥287.5 a kg during the day session and then to ¥275 (Rs 172.64) a kg in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 202 (205); RSS-5: 199 (203); ungraded: 192 (193); ISNR 20: 183.50 (190) and latex 60 per cent: 124 (125.50).

Published on November 07, 2011

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