Spot rubber rules unchanged
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Spot rubber prices continued to rule unchanged on Friday. The transactions were in a low key as there was no improvement in arrivals as yet. Major manufacturers were buyers on the grade up to the quoted levels and sheet rubber RSS 4 finished flat at Rs 140 a kg as on Thursday.
The trading community seemed to be bit disappointed since there were no signs of improvement in the domestic supply as expected before Onam. With only a few more days for the most celebrated festival of the State, the decline in business volumes is a matter of concern for the dealers as a whole, according to a spokesperson. It is really surprising to see that even the village markets are suffering from acute shortage of the raw material, he added.
Futures decline
In international futures, RSS 3 declined at its September contract to ¥333.6 (Rs 140.17) from ¥340.7, October to ¥323.6 (330.4), November to ¥320 (327), December to ¥313 (320.3), January to ¥310 (317.1) and February to ¥308.6 (316.5) a kg at TOCOM. The grade (spot) improved marginally to Rs 132.97 from Rs.132.32 a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 140 (140); RSS-5: 136 (136); ungraded: 133 (133); ISNR 20: 130 (130) and latex 60 per cent: 80.50 (80.50).
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Source : Business Line |
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