KOTTAYAM, APRIL 3:
Spot rubber declined on Wednesday. The market lost ground tracking the heavy losses in domestic futures on the National Multi Commodity Exchange (NMCE). According to observers, the prices fell mainly on buyer resistance though there was no selling pressure either from dealers or growers. The trend was partially mixed as latex finished flat amidst scattered transactions.
Sheet rubber surrendered to Rs 165.50 (167) a kg, according to traders. The grade weakened to Rs 166.50 (167.50) a kg both at Kottayam and Kochi, according to Rubber Board.
In futures, the April series dropped to Rs 162 (164.90), May to Rs 163.80 (167.73), June to Rs 164.90 (168.82), July to Rs 164.50 (169.01) and August to Rs 165.65 (169.42) a kg for RSS 4 on the NMCE.
RSS 3 (spot) slid to Rs 155.54 (155.89) a kg at Bangkok. Its April futures increased to ¥ 246.1 (Rs 143.24) from ¥ 246 a kg during the day session and then to ¥246.9 (Rs 143.71) in the night session on Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (Rs/kg): RSS-4: 165.50 (167); RSS-5: 164 (164.50); Ungraded: 159 (161); ISNR 20: 161 (162) and Latex 60 per cent: 111 (111).
Source: Business Line
