Spot rubber prices decline

Spot rubber prices decline


Kottayam, Nov. 23

Physical rubber prices declined on Tuesday. According to observers, the prices fell following the sharp losses in domestic futures on NMCE. Though there has been only marginal selling pressure from dealers, the market surrendered mainly on buyer resistance with slight improvement in volumes.

Sheet rubber moved down to Rs 199 (201) a kg according to dealers. The grade finished flat at Rs 200.50 a kg both at Kottayam and Kochi as reported by the Rubber Board.

Futures down

In futures, the December series nosedived to Rs 199 (203.86), January to Rs 202.30 (206.88), February to Rs 204.80 (208.83) and March to Rs 208.49 (211.76) a kg for RSS 4 on National Multi Commodity Exchange (NMCE).

The volumes stood at 7530 lots and the turnover at Rs 153.18 crores. The total open interest in all series was 5868 lots.

RSS 3 (spot) closed at Rs 201.30 (201.22) a kg at Bangkok. The Tokyo Commodity Exchange (TOCOM) remained closed on account of Labour Thanksgiving Day.

Spot rates were (Rs/kg): RSS-4: 199 (201); RSS-5: 187.50 (189); ungraded: 183.50 (185); ISNR 20: 193 (194) and latex 60 per cent: 130 (130).