Spot rubber drops below Rs 130/kg

Print this page Posted on : 05-30-2008 by recycleinme.com

The rubber prices continued to rule weak on Thursday. Declines in international futures hammered the domestic sentiments and RSS 4 slipped to Rs 129.50 from to Rs 130 a kg on Wednesday. The market made all-round declines mainly on buyer resistance. In fact the firm Bangkok rates failed to catalyse the domestic mood. Most of the traders preferred to sideline the market letting the rates to recover after the steep fall.

Low volumes

There was no panic selling from the producing sector as expected and hence the volumes were low. Major consuming industries were totally inactive during the session. Spot prices were (Rs/kg): RSS-4: 129.50 (130); RSS-5: 124.50 (125); ungraded: 119.50 (120); ISNR 20: 120.50 (121) and latex 60 per cent: 82 (82).

Source : Business Line