Spot rubber turns weak
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Domestic rubber prices turned weak on Tuesday. RSS 4 declined to Rs 84.50 from Rs 85.50 a kg on moderate selling from dealers and growers. The sentiments were hit mainly by a weak closing in global indices. The revised quote from the tyre sector was further below at Rs 84 a kg for sheet rubber. The trend was mixed.
Futures slip
Rubber futures on the Tokyo Commodity Exchange remained under heavy selling on Tuesday afternoon. The futures were mixed at the opening. But as selling became dominant later, all contracts slipped into the minus territory towards morning close. Sentiments were weak on late trading as oil products and crude oil futures fell deep into the negative territory. The November contract for RSS 3 moved down to ¥175.9 (Rs 86.43) from ¥177.3, December to ¥171.8 (177.8), January to ¥174.2 (181.2), February to ¥176.5 (184.8), March to ¥179.5 (187.9) and April to ¥181.8 (190.4) a kg at TOCOM. RSS 3 (spot) slipped marginally to Rs 88.02 (88.22) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 84.50 (85.50); RSS-5: 82 (82.50); ungraded: 80 (80); ISNR 20: 81 (81) and latex 60 per cent: 58 (58.50).
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Source : Business Line |
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