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Spot rubber was in a mixed mood on Wednesday. RSS 4 finished unchanged at Rs.123.00 per kg according to traders while it improved to Rs.123.00 (122.50) per kg as reported by the Rubber Board.
The grade firmed up to Rs.119.00 (118.50) per kg according to dealers. The physical market continued to remain range bound in the absence of genuine buyers or sellers to set a definite trend in the commodity. Meanwhile Latex had 60% lost further on buyer resistance but RSS 5 improved marginally on enquiries from the general rubber goods sector.
Demand from tyre makers, the key buyers of natural rubber (NR) has been subdued since a long period of time due to the slowdown in domestic automobile sales, sources said.
Expectation of a rise in imports is also putting immense pressure on the market. But a sharp decline in production owing to adverse weather conditions is supporting the prices to certain extend, they agreed.
The November futures weakened to Rs.122.93 (123.63) and December to Rs. 124.10 (125.77) per kg for RSS 4 on the Indian Commodity Exchange (ICEX).
The October futures slid to Rs.97.06 (97.30) while the November futures improved to Rs.101.05 (99.48) per kg for RSS 3 on the Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (Rs/kg) were:
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