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Spot rubber declined again on Tuesday. The market appeared to be moving into a corrective phase as prices continued to fall on buyer resistance amid scattered selling by dealers. Another weak closing in domestic futures and early losses on the Tokyo Commodity Exchange (TOCOM) added pressure. The volumes were marginally higher compared with the previous sessions.
Sheet rubber fell to Rs 235.50 a kg (Rs 238.00), according to traders. The grade declined to Rs 236 a kg (Rs 239), as reported by the Rubber Board.
The May series weakened to Rs 237.55 (Rs 240.19), June to Rs 242 (Rs 244.27), July to Rs 242.41 (Rs 243.44), August to Rs 237.40 (Rs 238) and September to Rs 229.21 (Rs 232.70) a kg for RSS-4 on the National Multi-Commodity Exchange.
RSS-3 (spot) dropped to Rs 257.26 a kg (Rs 261.94) at Bangkok. The April futures for the grade declined to ¥435 (Rs 234.70) from ¥450 a kg during the day session, but recovered partially to ¥438 (Rs 236.30) in the night session on the TOCOM.
Spot rates were (Rs/kg): RSS-4: 235.50 (238); RSS-5: 233 (234); ungraded: 228 (231); ISNR 20: 231 (234) and latex 60 per cent: 146 (146).
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