Commodities

Buyer resistance saps spot rubber

Aravindan Kottayam June 5 | Updated on November 24, 2017 Published on June 05, 2014

BL06_RUBBER





Spot rubber resumed its downward journey on Thursday. The market declined on buyer resistance, though there was no visible selling by dealers or growers.

According to observers, the local trading houses are suffering from acute short supplies but the wide gap with the international prices continued to put further pressure on the commodity.

Sheet rubber weakened to ₹144.50 (₹145) a kg, according to traders and the Rubber Board. The grade slipped to ₹141.50 (₹142), as quoted by the dealers. June futures declined to ₹142.65 (₹143.94), July to ₹141.90 (₹143.29), August to ₹138.48 (₹140.59), September to ₹138 (₹139.16) and October to ₹137.25 (₹140.83) while the rubber mini June futures dropped to ₹142 (₹143.94) on the National Multi Commodity Exchange. RSS 3 (spot) improved to ₹ 119.61 (₹119.06) at Bangkok. June futures closed at ¥183 (₹105.89) on the Tokyo Commodity Exchange.

Spot rubber rates (₹/kg) were: RSS-4: 144.50 (145); RSS-5: 140 (142); Ungraded: 135 (137); ISNR 20: 132 (134) and latex 60%: 120 (120).

Published on June 05, 2014
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