Spot rubber turns weak on global cues
Kottayam, June 16
Rubber prices turned weak on Wednesday. In spot, the prices fell following the declines in futures. There were also rumours that the tyre companies might not re-enter the market as they were waiting for immediate imports. Sheet rubber dropped to Rs 169.50 (170.50) a kg on buyer resistance.
According to sources, the market may experience profit booking at higher levels in the succeeding sessions.
Futures weak
RSS 4 weakened at its July futures to Rs 166.10 (167.30), August to Rs 161 (162.17) and September to Rs 157 (157.32) while the October futures concluded the debut trading at Rs 155.01 a kg on the National Multi Commodity Exchange . RSS 3 (spot) firmed up to Rs 168.77 (165.66) a kg at Bangkok. The June futures improved to ¥361.4/Rs 183.70 (¥358), July to ¥350.5 (¥343.5), August to ¥330.6 (¥322.9), September to ¥309.2 (¥302), October to ¥291.1 (¥284) and November to ¥285.7 (¥278.2) a kg for RSS 3 during the day session on the Tokyo Commodity Exchange .
Spot prices were (Rs/kg): RSS-4: 169.50 (170.50); RSS-5: 167 (168.50); ungraded: 165 (167); ISNR 20: 150.50 (151.50) and latex 60 per cent: 120 (120).
Thursday, June 17, 2010
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