Spot rubber rules weak
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The physical rubber prices finished weak on Friday. RSS 4 moved down to Rs 132.50 a kg from Rs 133 a kg on buyer resistance. Exporters and major manufacturers were hesitant to enter the market above Rs 132 a kg for sheet rubber, an observer said.
Global indices were ruling much higher on Wednesday though they recovered partially on Friday from the declines on Thursday while domestic market remained closed on account of a harthal. It has been one of the major factors behind the day's bearish mood. Sentiments were also affected by subsiding monsoon rains as the unexpected change in weather might enhance latex production.
July futures improve
The July contract for RSS 3 improved to ¥343.3 (Rs 138.80) from ¥341.8, August to ¥343.9 (¥341.3), September to ¥343.4 (¥341.5), October to ¥344.3 (¥343.5), November to ¥346.1 (¥344.7) and December to ¥346.9 (¥345.7) a kg at TOCOM. The grade slipped to Rs 142.44 (142.72) a kg at Bangkok spot. Spot prices were (Rs/kg): RSS-4: 132.50 (133); RSS-5: 131 (132); ungraded: 127.50 (128.50); ISNR 20: 131.50 (132) and latex 60 per cent: 89 (89).
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Source : Business Line |
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