Spot rubber declines further

Aravindan Kottayam | Updated on January 28, 2011

Physical rubber prices weakened further on Friday. Though the domestic futures recovered partially, the spot market failed to regain strength on buyer resistance. According the observers, there has been scattered selling from dealers even during late trading hours anticipating further fall in prices. The volumes were comparatively low.

Sheet rubber closed weak at Rs 224 (225.50) a kg, according to traders. The grade declined sharply to Rs 225 (231) a kg both at Kottayam and Kochi, as reported by the Rubber Board.

Futures improve

The February series improved to Rs 226.85 (222.42), March to Rs 232.60 (227.48), April to Rs 243.30 (239.11) and May to Rs 250.10 (245.53) a kg for RSS 4 on the National Multi Commodity Exchange.

The volumes totalled 18302 lots and open interest 11715 lots. The turnover was Rs 422.88 crores.

RSS 3 (spot) moved down to Rs 261.42 (262.86) a kg at Bangkok. The February futures slipped to ¥479.3 (Rs 266.20) from ¥479.7 a kg during the day session but then remained unchanged in the night session on the Tokyo Commodity Exchange (TOCOM).

Spot rates were (Rs/kg): RSS-4: 224 (225.50); RSS-5: 215 (220); ungraded: 212 (214); ISNR 20: 220 (224) and latex 60 per cent: 151 (152).

Published on January 28, 2011

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