Mixed trend in rubber
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Kottayam, Oct. 3
Physical rubber prices showed a mixed mood on Monday. The market opened weak but regained strength in major counters as domestic futures recovered the initial losses on late trades.
The overall sentiments were bearish, while the remaining grades including latex lost mainly on buyer resistance.
With peak production season on and climatic conditions improving, gains will be limited though the projected demand-supply deficit and falling inventories in warehouses might cushion a fall.
As China goes for a week-long holiday starting Monday, activities are expected to be dull during the week in the global scene.
Sheet rubber closed unchanged at Rs. 209 a kg according to traders.
The grade dropped to Rs. 208.50 (209.50) a kg both at Kottayam and Kochi as quoted by the Rubber Board.
RSS 4 improved at its October series to Rs. 209.50 (208.82), November to Rs. 205.70 (205.04), December to Rs. 207.40 (206.36), January to Rs. 208.50 (207.06) and February to Rs. 209.55 (209) a kg on the National Multi Commodity Exchange. RSS 3 (spot) slipped to Rs. 203.53 (207.33) a kg at Bangkok.
The October futures declined to ?294 (Rs 188.15) from ?301.8 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 209 (209); RSS-5: 206 (206); ungraded: 197 (198); ISNR 20: 201 (203) and latex 60 per cent: 130.50 (131).
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Source : Business
Line
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