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).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.