Spot rubber turns weak

Print this page Posted on : 02-06-2010 by recycleinme.com

Kottayam, Feb. 5

Physical rubber prices turned weak on Friday. The markets seemed to be reacting mainly in tune with the sharp declines in the Japanese rubber futures. In spot, the prices fell as NMCE registered moderate losses in rubber following the global weakness.

Sheet rubber surrendered to Rs 133 from Rs 135 a kg as most of the buyers stayed back expecting the fall to continue during the weekend session on Saturday. According to observers, there was no selling pressure in the physical market even during the closing hours.

The February futures declined to Rs 132.80 (134.28), March to Rs 134.80 (136.96), April to Rs 138.77 (141.10) and May to Rs 141.63 (145.99) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 moved down to Rs 138.14 (141.36) a kg on Singapore Commodity Exchange (SICOM). The February futures nosedived to ?259 (?273) (Rs 135.23), March to ?262.2 (?273.5), April futures to ?262.7 (?275.5) and May to ?265.6 (?278) a kg for RSS 3 during the day session on Tokyo Commodity Exchange (TOCOM).

Spot rates were (Rs/kg): RSS-4: 133 (135); RSS-5: 131 (132); ungraded: 128 (130); ISNR 20: 131 (131.50) and latex 60 per cent: 89 (89.50).

Source : Business Line