Spot rubber turns weak

Print this page Posted on : 01-28-2010 by recycleinme.com

Kottayam, Jan. 27

Physical rubber prices turned weak on Wednesday. Declines in the domestic and international rubber futures hammered the sentiments, while the market made all-round declines mainly on selling from dealers. Sheet rubber slid to Rs 133.50 from Rs 135 a kg and there were no fresh enquiries from the tyre sector. The global markets are on a technical correction, following profit-booking at higher levels. They are expected to bounce back during the second half of February on fresh buying, an analyst said.

The February futures surrendered gains to close at Rs 133.15 (136.29), March to Rs 135.27 (139.20), April to Rs 139.25 (143.21) and May to Rs 141.80 (146.18) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 weakened to Rs 141.48 (142.62) a kg on Singapore Commodity Exchange (SICOM). The grade moved down to Rs 144.48 (145.77) a kg at Bangkok. The February futures RSS 3 declined to ?267.8 (?276) (Rs 138.65), March to ?269.4 (?276.4) and April to ?270.1 (?279) a kg for during the day session on Tokyo Commodity Exchange. Spot rates were (Rs/kg): RSS-4: 133.50 (135); RSS-5: 130 (130); ungraded: 126.50 (128); ISNR 20: 131 (132) and latex 60 per cent: 91 (91.50).

Source : Business Line