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Spot rubber skids on global cues on Nov. 16, 2012

Spot rubber skids on global cues on Nov. 16, 2012KOTTAYAM, NOV. 16: 

Spot rubber finished weak on Friday.

Declines in the domestic and international futures and the absence of genuine buyers continued to weigh over the commodity.

The Key TOCOM rubber futures fell as investors took profits, with the Yen stabilising after recent declines on the possibility of further monetary easing in Japan.

Sheet rubber dropped to Rs 168 (171) a kg, according to traders. The grade declined to Rs 168.50 (170.50) a kg at Kottayam and Kochi , according to Rubber Board.

The December series weakened to Rs 170.85 (172.35), January to Rs 172.89 (174.78) February to Rs 175.30 (177.37) and April to Rs 180.67 (183.35) a kg, while the March series remained inactive on the National Multi Commodity Exchange.

RSS 3 (spot) improved to Rs 164.92 (164.09) a kg at Bangkok.

The November futures dropped to ¥236.1 (Rs 161.32) from ¥238.9 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: 168 (171); RSS-5: 165 (167); ungraded: 161 (162); ISNR 20: 158 (159) and latex 60 per cent: 111.50 (109).

Source: Business Line

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