Rubber skids further on absence of buying

Our Correspondent Kottayam | Updated on August 14, 2012 Published on August 14, 2012

Physical rubber prices sought further lows on Tuesday.

According to observers, prices fell amidst low volumes as there have been no genuine buyers in the market.

Major manufacturers were totally inactive and the selling from dealers kept the commodity under pressure during the day.

Other than that, declines in the domestic and international futures weighed heavily over the sentiments.

Sheet rubber declined Rs 168 (170) a kg, according to the traders.

The grade slid to Rs 169 (172.50) a kg both at Kottayam and Kochi, according to Rubber Board.

August contracts dropped to Rs 170 (172.07), September to Rs 163.01 (163.78), October to Rs 161.26 (162.09), November to Rs 160.65 (161.38) and December to Rs 161.30 (163.16) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) moved down to Rs 154.43 (157.33) a kg at Bangkok. The August futures fell to ¥198.1 (Rs 140.52) from ¥206.1 a kg during the day session and then to ¥197 (Rs 139.74) in the night session on the Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4: 168 (170); RSS-5: 159 (162); Ungraded: 150 (153); ISNR 20: 150 (152) and Latex 60 per cent: 114 (115.50).

Published on August 14, 2012
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