Spot rubber declines on global cues
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The rubber prices surrendered marginally on Tuesday. Declines in global rubber followed by yen's strength against dollar and sharp fall in oil products and crude oil futures kept the domestic market under pressure. RSS 4 slipped to Rs 131.50 a kg on scattered selling from dealers. Major manufacturers were buyers on sheet rubber up to Rs 131 a kg but they were keeping a low profile though it was difficult to procure the raw material at lower levels. Exporters continued to sideline the market.
July futures drop
The transactions were in a low key. RSS 3 (spot) declined to Rs 139.98 (141.77) a kg at Bangkok . The grade fell further at its July contract to ¥337.6 (Rs 137.10) from ¥342.5, August to ¥337.4 (342.3), September to ¥336(342.6), October to ¥336.7 (343), November to ¥337.7 (344.7) and December to ¥338.5 (345.2) a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 131.50 (132); RSS-5: 129 (130); ungraded: 127 (127.50); ISNR 20: 130 (131) and latex 60 per cent: 89 (89).
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Source : Business Line |
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