Spot rubber drops as weather improves
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Physical rubber prices fell further on Wednesday. A favourable change in weather continued to put pressure on the prices as more dealers and growers joined the sellers queue, an observer said. Sheet rubber weakened to Rs 135 from Rs 136 a kg on Tuesday. The volumes were better. Major manufacturers bought sheet rubber up to Rs 135.50 a kg on early trades. But the market failed to sustain at higher levels on increased selling pressure though global futures finished in green after a weak opening.
August futures recover
According to an analyst, the market is expected to regain strength only around global levels. RSS 3 (spot) declined to Rs 129.09 (131.26) a kg at Bangkok. The grade recovered partially at its August futures to ¥332.8 (Rs 129.28) from ¥330.3, September to ¥324.4 (322.2), October to ¥319.7 (317.4), November to ¥318.4 (316.3), December to ¥317.4 (314.3) and January to ¥316.7 (314.8) a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 135 (136); RSS-5: 132 (134); ungraded: 126 (128); ISNR 20: 131 (133) and latex 60 per cent: 83 (85).
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Source : Business Line |
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