Spot rubber plummets below Rs 200 a kg

Aravindan Kottayam | Updated on March 14, 2011

Rubber Latex being filled. File Photo : K. K. MUSTAFAH   -  Business Line

Spot rubber prices nosedived on Monday. The market was reacting in tune with the global crash in commodity markets following tsunami and earthquake impact in Japan. According to sources, domestic prices fell sharply on buyer resistance amidst low volumes. Sheet rubber surrendered to Rs 184 (200) a kg according to Dealers. The grade closed extremely weak at Rs 185 (201) a kg both at Kottayam and Kochi, as reported by the Rubber Board.

The April series declined hitting the lower circuit at Rs 197.79 (206.03), May to Rs 202.62 (211.06), June to Rs 208.26 (216.93) and July to Rs 209.64 (218.37) a kg for RSS 4, while the March series remained inactive on the National Multi Commodity Exchange.

RSS 3 (spot) nosedived to Rs 223.74 (241.26) a kg at Bangkok. The March futures for the grade moved down to ¥ 405.00 (Rs 222.55) from ¥ 430 a kg during the day session and then to ¥ 387.0 (Rs. 212.64) akg in the night session on Tokyo Commodity Exchange.

Spot rubber rates (in Rs/kg: RSS-4: 184 (200), RSS-5: 180 (199), Ungraded: 175 (195), ISNR 20: 183 (197), and Latex 60 per cent: 115 (120)

Published on March 14, 2011

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