Spot rubber prices turn weak

Spot rubber prices turn weak
Kottayam: Spot rubber prices turned weak on Wedensday. The market fell following the sharp declines in the domestic and international rubber futures.

Sheet rubber moved slid from Rs 132 from Rs 134 a kg, mainly on selling from dealers at higher levels. “We expect the growers to join the queue as the corrective phase is expected to continue for a few more sessions,” an observer said. The market made all-round declines amidst comparatively better volumes. Futures slip

The December futures dropped to Rs 130.60 (132.69), January to Rs.131.85 (133.86), February to Rs.133.00 (135.52) and March to Rs.135.35 (137.21) a for RSS 4 on the Nationnal Multi Commodity Exchange (NMCE).RSS 3 declined with the December futures slipping to ¥242.7 (¥249.5) (Rs.128.39), January to ¥242.8 (¥250.3), February to ¥244.9 (¥252.2) and March to ¥246.1 (253.8) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 moved down to Rs. 129.82 (130.92) a kg on Singapore Commodity Exchange. It closed weak at Rs 130.40 (Rs 131.35) a kg in Bangkok.Spot rates (Rs/kg) were:RSS-4:132 (134), RSS-5:127.0(130), Ungraded:123 (127), ISNR 20:129 (130) and Latex 60%: 80(82). (BL)
http://www.thehindubusinessline.com/2009/12/10/stories/2009121052851600.htm
Expensive rubber to push tyre prices up by 5%
Kochi: Apollo has proposed 5-10% rise while JK Tyres may raise prices by 3-5%. Due to a steep rise in raw material prices, especially that of natural rubber, tyre prices are likely to increase 5 per cent by the end of this year or early next year.

All major tyre firms have either hiked prices or are in the process of doing so. The new prices will come into effect soon. Apollo has proposed a 5-10 per cent hike while JK Tyres may raise prices by 3-5 per cent.

This will impact automobile firms, which are at present negotiating the price hike with the tyre companies. The robust growth in automobile sales, including passenger cars, in November does not enthuse the tyre industry as it has been reeling under high raw material prices for the last seven-eight months.

Natural rubber prices have increased 105 per cent in a year. The tyre industry has decided to pass on the additional burden to end users.

Sathish Sharma, chief of manufacturing and marketing at Apollo Tyres said the company would increase prices by 5-10 per cent and the new price list would come by the third week of this month. “We have had discussions and asked automobile makers for a price increase of 10-20 per cent. A decision is likely to be taken in a week’s time,” he added. (BS)
http://www.business-standard.com/india/news/expensive-rubber-to-push-tyre-pricesby-5/379051/