Agri Business

Spot rubber rules weak on buying pressure

Our Correspondent Kotayam | Updated on October 30, 2012 Published on October 30, 2012

Spot rubber weakened on Tuesday.

According to market circles, the wide gap between the domestic and international markets and the absence of genuine buyers from the industrial sector continued to keep the commodity under pressure during late trading hours.

Almost similar rates on the National Multi Commodity Exchange and the sharp declines in stocks were the other decisive factors which influenced sentiments.

sheet rubber

Sheet rubber moved down to Rs 177 (179) a kg at Kottayam and Kochi as reported by the traders and the Rubber Board.

The November contracts improved marginally to Rs 177.90 (177.77), December to Rs 179.80 (178.98), January to Rs 182.02 (181.52) and February to Rs 184.70 (184.49).

The March contracts dropped to Rs 184.74 (185.89) for RSS 4 on the NMCE.

RSS 3 (spot) slipped to Rs 164.54 (166.62) at Bangkok.

The November futures declined to ¥242 (Rs 164.65) from ¥248.5 a kg during the day session but then recovered partially to ¥244.3 (Rs 166.21) a kg in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 177 (179); RSS-5: 173 (174); ungraded: 166 (167); ISNR 20: 162 (163) and latex 60 per cent: 119 (120).

Published on October 30, 2012
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