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Buyer resistance saps rubber on Nov. 27

Buyer resistance saps rubber on Nov. 27KOTTAYAM, NOV. 27: 

Physical rubber prices turned weak on Tuesday. The market lost ground mainly on buyer resistance, reacting closely to the weakness in the domestic and international futures.

Meanwhile, the TOCOM rubber futures edged lower tracking the early losses in oil and stocks.

Sheet rubber slid to Rs 173.50 at Kottayam and Kochi from Rs 175 and Rs 174 a kg respectively, according to the traders and the Rubber Board. The trend was partially mixed.

The December series declined to Rs 174.99 (176.56), January to Rs 177 (178.82), February to Rs 179.70 (181.51), March to Rs 182.50 (184)a kg on the National Multi Commodity Exchange.

RSS 3 (spot) improved to Rs 167.39 (166.79) a kg at Bangkok. The December futures dropped to ¥244.8 (Rs 165.67) from ¥247.7 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: 173.50 (175); RSS-5: 169 (170); ungraded: 163.50 (165); ISNR 20: 162.50 (162.50) and latex 60 per cent: 111 (111).

Source: Business Line

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