Global cues drag spot rubber prices
Kottayam, Nov. 15
Spot rubber turned weak on Monday. The prices slipped following the declines in the domestic and international futures. According to sources, moderate selling from dealers and growers continued to put pressure on the market though widespread rains were still reported from the plantation areas.
Sheet rubber moved down to Rs 198 (200) a kg both at Kottayam and Kochi according to Rubber Board and Dealers. The volumes were comparatively better.
Futures decline
In futures, the November series expired at Rs 197.50 (198.67) a kg, while the December series slipped to Rs 200.70 (201.50), January to Rs 202.95 (203.50) and February to Rs 205.85 (206.28) a kg for RSS 4 on the National Multi Commodity Exchange.
RSS 3 weakened further at its November futures to ¥351 (Rs 191.47) from ¥360 a kg during the day session and then to ¥346.5 (Rs 189) in the night session on the Tokyo Commodity Exchange (TOCOM). The grade (spot) closed weak at Rs 196.49 (197.92) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 198 (200); RSS-5: 187 (189); Ungraded: 183 (185); ISNR 20: 195 (197) and latex 60 per cent: 130 (131).
Tuesday, November 16, 2010
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