Spot rubber declines further

Aravindan Kottayam | Updated on January 31, 2011

Physical rubber prices moved down further on Monday. The market lost ground following the sharp declines in domestic futures on the National Multi Commodity Exchange. According to sources, selling from dealers kept the commodity under pressure during the day. The markets in general seemed to be moving under the grip of speculators, they said. Certain tyre companies bought RSS 4 up to Rs 225 a kg on early trades, an observer said.

Sheet rubber slid to Rs 221.50 (224.50) a kg, according to dealers. The grade moved down to Rs 223 (226) a kg, as quoted by the Rubber Board.

Futures weak

The February series for RSS 4 weakened to Rs. 217.99 (223.21), March to Rs 222.60 (228.38), April to Rs 231.36 (238.16) and May to Rs 239.25 (244.78) a kg on the NMCE.

RSS 3 (spot) improved to Rs 262.46 (261.42) a kg at Bangkok. The February futures for the grade slipped again to ¥478.7 (Rs 267.44) from ¥479.3 a kg during the day session but then remained unchanged in the night session on the Tokyo Commodity Exchange.

Spot rates were: RSS-4: 221.50 (224.50); RSS-5: 215 (216); Ungraded: 210 (213); ISNR 20: 219 (220) and latex 60 per cent: 149 (151).

Published on January 31, 2011

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