Spot rubber declines on global cues
Kottayam, Nov. 17
Spot rubber declined on Wednesday on a holiday mood in the market and the prices fell amidst scattered transactions. A weak closing in the international markets kept the prices under pressure on late trades. Most of the traders were inactive and National Multi Commodity Exchange remained closed owing to Eid.
According to dealers, sheet rubber weakened to Rs 195 (197) a kg mainly on buyer resistance. The grade closed at Rs 195 (197.50) a kg both at Kottayam and Kochi according to Rubber Board. RSS 3 declined at its November futures to ¥348.4 (Rs 189.37) from ¥357.3 a kg during the day session and then to ¥346.9 (Rs 188.55) in the night session on the Tokyo Commodity Exchange . The grade (spot) slipped to Rs 197.24 (197.74) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 195 (197); RSS-5: 185 (187); ungraded: 180 (184); ISNR 20: 192 (193) and latex 60 per cent: 130 (130).
Thursday, November 18, 2010
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