Market on Jan 9: Rubber weakens on absence of bulk buying

Market on Jan 9: Rubber weakens on absence of bulk buying
January 10, 2012





KOTTAYAM, JAN. 9:

The physical rubber prices turned weak on Monday. The absence of quantity buyers kept the market under pressure during the session. Though certain dealers were selling on RSS 4 fearing a further dip in prices, there was no visible improvement in arrivals from the producing sector, sources said.

Subdued demand from the major rubber consuming industries continued to weigh on market although the peak production season is very near to its closing days now. However, with the current declines, the gap between the domestic and international markets has narrowed considerably.

Sheet rubber dropped to Rs 186.50 (188.00) a kg according to traders. The grade declined to Rs 187.00 (190.00) a kg both at Kottayam and Kochi according to Rubber Board.

In futures, the January series closed at Rs 190.90 (190.67), February at Rs 194.00 (193.73), March at Rs 197.95 (197.58), April at Rs 204.50 (204.67), May at Rs 208.90 (208.00) and June at Rs 204.50 (206.60) a kg for RSS 4 on National Multi Commodity Exchange (NMCE).

RSS 3 (spot) increased marginally to Rs 176.85 (176.45) a kg at Bangkok. The Tokyo Commodity Exchange (TOCOM) remained closed owing to the ‘Coming of Age Day ‘

The spot rubber rates/kg were RSS-4: 186.50 (188.00); RSS-5: 181.00 (182.00); Ungraded: 174.00 (178.00); ISNR 20: 181.00 (184.00) and Latex 60 per cent: 106.00 (106.00)