KOTTAYAM, NOV. 1:
Spot rubber weakened further on Thursday. Though widespread rains were reported from major plantation areas, the prices lost strength, lacking quantity buyers from the tyre sector.
According to analysts, most of them were comfortable with imports and expectations on an improvement in their volumes may not materialise in the immediate future.
Sheet rubber dropped to Rs 176 kg at Kottayam and Kochi from Rs 177 and Rs 176.50 respectively, according to traders and the Rubber Board. The trend was partially mixed.
The November contracts concluded at Rs 177.84 (Rs 177.31), December at Rs 179 (Rs 178.75), January at Rs 180.81 (Rs 181.11) and February at Rs 183.19 (Rs 183.00), while the March and April futures remained inactive on the National Multi Commodity Exchange.
RSS 3 (spot) increased to Rs 165.23 (164.23) a kg at Bangkok. The November futures improved to ¥247 (Rs 165.86) from ¥243.1 during the day session, but then remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rates were (Rs/kg): RSS-4: 176 (177); RSS-5: 172 (173); ungraded: 166 (166); ISNR 20: 160.50 (161) and latex 60 per cent: 117.50 (118).
Source: Business Line
