Rubber prices close lower due to mild buying interest

Rubber prices close lower due to mild buying interest
May 25, 2012




KUALA LUMPUR, May 25 — Rubber prices in the local rubber market continued to trade lower today due to mild buying support, dealers said. They said the demand for commodities globally were hampered by continued wariness about the eurozone debt saga.

“Despite the current tight rubber supply, local traders were still hesitant to take any major move although the benchmark Tokyo rubber contract managed to edge higher today,” they said.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 lost 11 sen to 1,000.5 sen a kg while latex-in-bulk slipped four sen to 717.5 sen a kg.

The unofficial closing price for tyre-grade SMR 20 shed five sen to 998.0 sen a kg and latex-in-bulk slid two sen to 716.5 sen a kg.







Market on May 25: Traders avoid taking position in rubber futures
May 25, 2012




KOTTAYAM, MAY 25:

Physical rubber prices closed almost steady on Friday. According to observers, market activities were extremely slow. Traders seemed to be hesitant to take fresh positions though the domestic futures ended marginally higher on the National Multi Commodity Exchange (NMCE). The trend was partially mixed as latex improved on comparatively better demand.

Sheet rubber closed unchanged at Rs 193.25 a kg, as quoted by traders. The grade was flat at Rs 193.50 a kg both at Kottayam and Kochi, according to the Rubber Board.

The June series improved to Rs 194.10 (193.75), July to Rs 197 (196.58) and August to Rs 197.49 (196.62), while September series dropped to Rs 195.01 (196.50) a kg for RSS 4 on the NMCE.

The TOCOM rubber futures edged lower on profit booking at higher levels. RSS 3 (spot) improved to Rs 207.23 (206.41) a kg at Bangkok. The May contract expired weak at ¥265 (Rs 184.54) a kg, while the June futures slipped to ¥263.4 (Rs 183.40) from ¥266.6 a kg on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 193.25 (193.25); RSS-5: 192 (192); ungraded: 188 (188); ISNR 20: 193 (193) and latex 60 per cent: 125.50 (125).