Spot rubber turns weak

Print this page Posted on : 06-23-2009 by recycleinme.com

The domestic rubber prices turned weak on Monday. In spot the market slipped following the bearish reports from its futures on NMCE. Sheet rubber surrendered to Rs 99 from Rs 99.50 a kg on buyer resistance. There were no fresh enquiries from the tyre sector. The trend was mixed as ISNR 20 remained flat and rather inactive while Latex 60 per cent improved on short supply.

Futures slip

The July futures for RSS 4 moved down Rs 97.50 (98.29), August at Rs 95.15 (96.27) , September at Rs 92.56 (93.50) and October at Rs 91.50 (92.45) a kg on National Multi Commodity Exchange (NMCE). RSS 3 declined at its June futures to ¥148 (150.9) (Rs 74.92), July to ¥150 (151.5), August to ¥151.7 (153.6), September to ¥153.9 (155.7), October to ¥155.9 (157.5) and November to ¥157.5 (159.5) a kg during the day session on TOCOM. The grade concluded at ¥154 (Rs 77.96), ¥147.1, ¥150.5, ¥152.1, ¥153.5 and ¥155.4 a kg consecutively during the night session. RSS 3 fell to Rs 80.10 (81.33) a kg on Singapore Commodity Exchange (SICOM). The grade slipped to Rs 81.60 (81.89) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 99 (99.50); RSS-5: 96 (96.50); Ungraded: 93.50 (94); ISNR 20: 90.50 (90.50) and latex 60 per cent: 84 (83.50).

Source : Business Line