Weak futures sap spot rubber

Weak futures sap spot rubber


Kottayam, Dec. 22

Spot rubber prices turned weak on Wednesday. Declines in the domestic futures and a favourable change in weather giving a late welcome to the peak production season kept the market under pressure during the day.

Moderate gains in Bangkok spot prices failed to make any visible impact on sheet rubber but ISNR 20 and latex ruled firm on better demand. There was no improvement in arrivals and the volumes were comparatively dull.

Sheet rubber slipped to Rs 207 (Rs 207.50) a kg, according to dealers. The grade finished unchanged at Rs 207.50 a kg both at Kottayam and Kochi, as quoted by the Rubber Board.

RSS 4 weakened further at its January series to Rs 209 (Rs 209.96), February to Rs. 213.50 (Rs 214.74), March to Rs 218.49 (Rs 219.57) and April to Rs 223.50 (Rs 224.25) a kg on the National Multi-Commodity Exchange.

RSS 3 (spot) increased to Rs 222.46 (Rs 220.60) a kg at Bangkok. The January futures for the grade weakened to ¥ 403.7 (Rs 218.03) from ¥ 404.9 during the day session and then to ¥ 402.4 (Rs 217.30) a kg in the night session on Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg): RSS-4: 207 (207.50); RSS-5: 201 (201.50); Ungraded: 195.50 (197.50); ISNR 20: 204.50 (202.50) and Latex 60%: 137 (134).


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