Buyer resistance drags spot rubber

Buyer resistance drags spot rubber


Kottayam, Dec 23

Spot rubber prices declined further on Thursday. Prices fell on buyer resistance amidst scattered transactions though there has been no visible selling pressure in the market.

Traders appeared to be moving in to a holiday mood with Christmas a couple of days away. According to observers, growers were not interested to sell their produce prior to the festive season as the international rates ruled much higher above the domestic scene and hence, the volumes were low.

Sheet rubber weakened to Rs 206.50 (207) a kg as quoted by the traders. The grade continued to finish flat at Rs 207.50 a kg at Kottayam and Kochi, according to Rubber Board.

FUTURES IMPROVE

January futures improved to Rs 210.28 (208.60), February to Rs 215.38 (213.09), March to Rs 220.10 (218.22) and April to Rs 225.40 (223.32) a kg on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) finished marginally higher at Rs. 222.58 (222.46) a kg at Bangkok. The Tokyo Commodity Exchange remained closed on account of the Emperor's Birthday.

Spot rubber rates (Rs/kg) were: RSS-4: 206.50 (207); RSS-5: 200 (201); ungraded: 195 (195.50); ISNR 20: 204 (204.50) and Latex 60%: 137 (137).
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