KOTTAYAM, JAN. 21:
Domestic rubber prices lost ground on Monday. Sharp declines in futures in the absence of major consuming industries on the buyers’ side kept sheet rubber under pressure during the day. The trend was mixed.
According to reports, the key Tokyo Commodities Exchange (TOCOM) rubber futures fell on profit-taking, but the losses were limited as investors were expecting a rise in volatility in the currency market since Japan’s central bank has convened a two-day policy meeting to stimulate the economy.
Sheet rubber closed weak at Rs 160 (161) a kg, as quoted by traders. The grade slipped to Rs 160.50 (161) a kg at Kottayam and Kochi, according to Rubber Board.
In futures, the February series declined to Rs 157.80 (161.89), March to Rs 160.27 (164.25), April to Rs 163.70 (167.62) and May to Rs167.90 (171.01) a kg, while the June series remained inactive on the National Multi Commodity Exchange.
RSS 3 (spot) weakened to Rs 179.18 (181.40) a kg at Bangkok. The January futures improved to ¥297.3 (Rs 179.03) from ¥296.6 a kg during the day session, but then dropped to ¥295.5 (Rs 177.95) a kg in the night session on the TOCOM.
Spot rates were (Rs/kg): RSS-4: 160 (161); RSS-5: 155 (156); ungraded: 150 (151); ISNR 20: 157 (157) and latex 60 per cent: 105.50 (105.50).
Source: Business Line
