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Physical rubber rates turned weak on Friday. According to sources, prices fell further on buyer resistance following another weak closing on the National Multi Commodity Exchange (NMCE).
There was also marginal selling by dealers during closing hours.
Sheet rubber weakened to Rs 193 (193.50) a kg, as quoted by traders. The grade slipped to Rs 193.50 (194) a kg at Kottayam and Kochi, according to the Rubber Board.
In futures, the June series closed at Rs 192.29 (193.58), July at Rs 195.59 (196.68), August at Rs 194.56 (195.97), September at Rs 194 (194) and October at Rs 195.50 (196.40) a kg for RSS 4 on the NMCE.
In the international market, Thailand plans to go ahead with its decision to buy rubber from farmers. It is considering to buy about 10,000 tonnes from Tokyo and Shanghai exchanges to shore up prices. This move is likely to cushion the falling prices in the days ahead.
RSS 3 (spot) improved to Rs 199.40 (197.91) a kg at Bangkok. The May futures increased from ¥258 a kg to ¥267.4 (Rs 183.52) in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg) : RSS-4: 193 (193.50); RSS-5: 191 (191.50); ungraded: 188 (188.50); ISNR 20: 192 (193) and latex 60 per cent: 124 (124).
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