Spot rubber turns weak

Spot rubber turns weak


Kottayam, Oct. 22

Rubber prices turned weak on Friday. On the spot, prices slipped marginally on buyer resistance following the declines in domestic rubber futures on the National Multi Commodity Exchange. There has been no visible selling pressure in the market as intermittent rains continued to disrupt tapping in almost all the plantations in the State.

Meanwhile, latex 60 per cent gained further on acute short supply. The trend was mixed. Sheet rubber weakened to Rs 189.50 a kg amidst low volumes. It closed unchanged at Rs 188.50 a kg both at Kottayam and Kochi according to Rubber Board on its official Web site.

RSS 4 declined further at its November futures to Rs 188.88 (193.58), December to Rs 190.60 (196.26), January to Rs 193 (198.47) and February to Rs 196.03 (200.15) a kg for on the NMCE. The volumes stood at 9,466 lots and the turnover at Rs 183.67 crore. The total open interest in all series was 4,687 lots. The October futures for RSS 3 slipped to ¥322 (Rs 176.80) from ¥325 during the day session but then recovered marginally to ¥322.3 (Rs 176.95) a kg during the night session on the Tokyo Commodity Exchange. The grade (spot) improved to Rs 178.77 (177.77) a kg at Bangkok.

Spot rates were: RSS-4: 189.50 (190); RSS-5: 180 (180); ungraded: 174 (175); ISNR 20: 185.50 (186) and latex 60 per cent: 121 (121).