Rubber in Tokyo Drops

Rubber in Tokyo Drops
Rubber in Tokyo Drops 0.6% to 292.90 Yen, Erasing Earlier Gain Share Business

Feb. 26 (Bloomberg) -- Rubber on the Tokyo Commodity Exchange declined by as much as 0.6 percent to 292.90 yen a kilogram, erasing an earlier gain by the same amount.\\

Spot rubber under pressure


Kottayam, Feb. 25

Spot rubber remained under pressure on Thursday. According to observers, the market slipped mainly on buyer resistance though there has been no visible selling pressure on any grade from dealers or growers. Sheet rubber weakened to Rs 140.50 from Rs 141 a kg amidst scattered transactions. The trend was mixed.

Futures improve

RSS 4 improved marginally at its March futures to Rs 141.34 (140.75), April to Rs 145.39 (145.11), May to Rs 148.39 (147.99) and June to Rs 150.25 (150.08) a kg on National Multi Commodity Exchange (NMCE). The March futures declined to ¥283.8 (¥289.2) (Rs 147.35), April to ¥286 (¥291.3), May to ¥288.4 (¥295.1) and June to ¥290.7 (¥297.6) a kg for RSS 3 during the day session on Tokyo Commodity Exchange.

RSS 3 flared up to Rs 152.08 (150.08) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) was quoted firm at Rs 151.16 (149.58) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 140.50 (141); RSS-5: 136.75 (138); ungraded: 135.50 (136); ISNR 20: 136 (136) and latex 60 per cent: 91 (91).