Spot rubber slips further

Print this page Posted on : 07-24-2009 by recycleinme.com

Kottayam, July 23

Physical rubber prices slipped further on Thursday. The absence of strong buyers and sales by traders following a favourable turn in weather continued to keep the market under pressure during the day.

The trend was mixed as ISNR 20 finished flat, while sheet rubber weakened to Rs 98.25 from Rs 98.75 a kg amidst scattered transactions. The remaining grades including latex 60 per cent lost on buyer resistance.

Futures firm

RSS 4 slipped marginally at its August futures to Rs 96.40 (96.43) a kg while the September futures improved to Rs 93.39 (92.76), October to Rs 90.88 (90.30) and November to Rs 90.30 (89.77) a kg on National Multi Commodity Exchange (NMCE). The July futures for RSS 3 closed at ?170.5 (?169.5) (Rs 87.50), August at ?170.7 (?170.8), September at ?170 (?171.1), October at ?171.5 (?171.8), November at ?173.6 (?173.5) and December at ?175.2 (?175) a kg during the day session on TOCOM. The September futures for the grade closed at ?170.6, October at ?172.2, November at ?174.5 and December at ?176 a kg during the night session. The July and August futures remained inactive on late trades. RSS 3 closed at Rs 87.89 (87.71) a kg at Bangkok. The grade moved up to Rs 88.04 (87.35) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 98.25 (98.75); RSS-5: 96 (96.50); ungraded: 93.50 (94); ISNR 20: 88 (88) and latex 60 per cent: 83.20 (84).

Source : Business Line