Spot rubber declines on buyer resistance

| Updated on: Apr 19, 2012
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Physical rubber prices resumed their downward journey on Thursday. There were no fresh factors in the market to trigger a bullish trend and it lost strength on buyer resistance as the reports from the domestic and international futures were negative. Transactions were dull.

Sheet rubber declined to Rs 195 from Rs 196 and Rs 196.50 a kg both at Kottayam and Kochi respectively, according to traders and the Rubber Board.

In futures, the May series closed at Rs 194.18 (194.61), June at Rs 199.52 (199.61), July at Rs 203.40 (203) and August at Rs 203.20 (204) a kg for RSS 4 on the National Multi Commodity Exchange.

The TOCOM rubber futures ended lower after falling as much as 2.5 per cent, reversing the previous session's sharp gains as investors preferred to stay on sidelines ahead of Spanish bond auction. RSS 3 (spot) slipped to Rs 197.48 (197.72) a kg at Bangkok. Its April futures weakened to ¥290 (Rs 184.55) from ¥294.7 a kg during the day session but then recovered partially to ¥293 (Rs 186.48) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg) : RSS-4: 195 (196); RSS-5: 193.50 (194.25); ungraded: 189 (190); ISNR 20: 194 (195) and latex 60 per cent: 126 (127).

Published on March 12, 2018

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