Commodities

Buyer resistance, profit booking sap rubber

Aravindan Kottayam | Updated on February 19, 2014 Published on February 19, 2014




Physical rubber prices lost ground on Wednesday.

The uptrend lost its steam on buyer resistance coupled with profit booking at higher levels though there were no genuine and quantity sellers in the local trading houses.

Sheet rubber declined to ₹152 (₹155) according to traders.

The grade dropped to ₹152.50 (₹155) and ₹159.50 (₹152) respectively as reported by the Rubber Board and dealers. The March futures closed at ₹152.60 (₹152.69), April at ₹157.01 (₹156.89), May at ₹159.55 (₹159.35) and June at ₹160.52 (₹162.14) on the National Multi Commodity Exchange.

RSS 3 (spot) improved to ₹139.53 (₹138.58) at Bangkok. The February futures closed at ¥228.6 (₹139.30) on Tokyo Commodity Exchange.

Spot rubber rates ₹/kg: RSS-4: 152 (155); RSS-5: 150 (152); Ungraded: 148 (149); ISNR 20: 150.50 (151) and Latex 60%: 122 (122).

Published on February 19, 2014
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