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India: Rubber skids on lack of buyers

KOTTAYAM, NOV. 4:  

Spot rubber prices ruled weak on Monday. Sentiments were led by the absence of buyers from major consuming sectors and an almost similar trend in domestic futures.

According to analysts, the bearish trend is expected to continue as the fundamental and technical factors are not supporting a sharp recovery in the immediate future unless the tyre people come forward with quantity buying orders.

Sheet rubber dropped to Rs 158 (158.50) a kg, according to traders.

The grade declined to Rs 158.50 (159) and Rs 155.50 (156) a kg respectively, as reported by the Rubber Board and dealers.

The November futures slipped to Rs 159.19 (159.74), December to Rs 160.11 (160.90) and January to Rs 162.10 (162.68) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) increased to Rs 155.51 (154.74) a kg at Bangkok.

The Tokyo Commodity Exchange was closed on account of the substitute holiday for National Culture Day

Spot rubber rates (Rs/kg): RSS-4: 158 (158.50); RSS-5: 151 (151); Ungraded: 147 (147); ISNR 20: 150 (150.50) and Latex 60 per cent: 114 (114.50).

India’s Rubber Prices on November 4, 2013

Arrivals in tonnes;prices in Rs/quintal in domestic market.

 

Arrivals

Price

 

Current

%

Season 

Modal

Prev.

Prev.Yr

change

cumulative

Modal

%change

Rubber

Thaliparamba(Ker)

3

NC

958.4

15200

15250

-13.14

Irity(Ker)

3

NC

994

15250

15250

-12.86

Pulpally(Ker)

2

NC

475.8

16500

16500

NC

Source: The Hindu

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