Spot rubber turns weak on global cues

Spot rubber turns weak on global cues

Kottayam, April 28:
Domestic rubber prices turned weak on Wednesday. On the spot, the market lost ground in tune with declines on the National Multi Commodity Exchange (NMCE). The sentiments were also affected partially by the weakness in international futures. Traders preferred to wait and watch till the prices stabilise after the ongoing corrective phase. Transactions continued to be low indicating short supplies.

Sheet rubber moved down to Rs 237.50 (240) a kg, according to traders. The grade closed at Rs 238.50 (239.50) a kg both at Kottayam and Kochi, according to the Rubber Board.

In futures, the May series weakened to Rs 236.79 (242.68), June to Rs 240.80 (247.04), July to Rs 241.37 (247.98), August to Rs 234.65 (239.55) and September to Rs 230.75 (232.53) a kg for RSS 4 on the NMCE.

RSS 3 (spot) surrendered to Rs 250.95 (254.38) a kg at Bangkok. The May futures declined to ¥430 (Rs 232.42) from ¥435.5 a kg during the day session but then to ¥429.7 (Rs 232.20) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 237.50 (240); RSS-5: 234 (236); ungraded: 230 (232); ISNR 20: 231.50 (233) and latex 60 per cent: 146 (147).

(This article was published in the Business Line print edition dated April 28, 2011)






Spot rubber rules steady
WEDNESDAY, APRIL 27, 2011 ADMIN
SHARE
TWEET
KOTTAYAM, APRIL 26:
Spot rubber ruled steady on Tuesday. The market seemed to be lacking initiative to set a definitive trend as traders were not interested to expand their commitments. Intermittent summer rain and expectations of an improvement in arrivals seemed to be guiding the sentiments. But it really appeared to be difficult to forecast any immediate change in the fundamental or technical position of the market.
According to traders, sheet rubber continued to remain unchanged at Rs 240 a kg amidst scattered transactions. The grade slipped to Rs 239.50 (240) a kg both at Kottayam and Kochi, according to Rubber Board.
The May series closed at Rs 242.30 (242.74), June at Rs 246.70 (247.67), July at Rs 248 (248.13), August at Rs 239.55 (239.33) and September at Rs 231.55 (230) a kg for RSS 4 on the National Multi Commodity Exchange.
RSS 3 (spot) weakened to Rs 254.38 (258.73) a kg at Bangkok. The May futures for the grade declined to ¥435.8 (Rs 237.31) from ¥442.8 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 240 (240); RSS-5: 236 (236); ungraded: 222 (222); ISNR 20: 233 (233) and latex 60 per cent: 147 (147)/