Rubber skids on absence of industrial demand

Our Correspondent Kottayam | Updated on July 12, 2012 Published on July 12, 2012


Domestic rubber markets turned weak on Thursday. In spot, the prices failed to sustain at the early levels following another weak closing on the National Multi Commodity Exchange (NMCE). The sentiments were also hit by unfavourable reports from the global scene and the absence of major consuming industries in the buyers queue kept it under pressure on late trading hours amidst import rumours.

Sheet rubber dropped to Rs 186 (187) a kg, according to traders. The grade moved down to Rs 186.50 (187) a kg at Kottayam and Kochi, as quoted by the Rubber Board.

RSS 4 declined at its July series to Rs 182.50 (184.60), August to Rs 182.82 (184.91), September to Rs 181.60 (183.81), October to Rs 181.50 (182.31) and November to Rs 180.50 (182) a kg, while the December series remained inactive on NMCE.

RSS 3 (spot) closed weak at Rs 172.95 (176.10) a kg at Bangkok. The July futures slipped to ¥238.5 (Rs 168.04) from ¥240.5 during the day session and then to ¥236.8 (Rs 166.84) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 186 (187); RSS-5: 180.50 (181); ungraded: 175 (176.50); ISNR 20: 180.50 (181) and latex 60 per cent: 133 (133).

Published on July 12, 2012
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