Spot rubber declines further
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The rubber market fell further on Wednesday. RSS 4 moved down to Rs 130 from Rs 131.50 a kg on sustained selling from dealers. According to sources, they were reacting closely to the weakness in global rubber which remained under pressure followed by another sharp decline in oil and precious metals futures. Major manufacturers kept their revised quotes even lower at Rs 129.50 a kg for sheet rubber.
July futures slip
The July contract for RSS 3 finished at ¥335.5 (Rs 134.76) against ¥337.6, August at ¥335 (337.4), September at ¥335.1 (336), October at ¥334.7 (336.7), November at ¥336.9 (337.7) and December at ¥336.8 (338.5) a kg at TOCOM. The grade slipped to Rs 139.43 (139.98) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 130 (131.50); RSS-5: 128 (129); ungraded: 126 (127); ISNR 20: 129 (130) and latex 60 per cent: 88.50 (89).
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Source : Business Line |
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