KOTTAYAM, APRIL 4:
Spot rubber weakened further on Thursday. There were no fresh factors to set a positive trend in the market and it continued to explore further lows following an almost panic selling from dealers.
According to observers, there were no buyers even at lower levels and the commodity remained under pressure during closing hours reacting closely to the declines in global trendsetters.
Sheet rubber declined to Rs 164 (165.50) a kg, according to traders. The grade fell to Rs 164.50 (166.50) a kg both at Kottayam and Kochi as quoted by the Rubber Board.
In futures, the April series closed at Rs 161.80 (162.10), May at Rs 164.68 (163.82), June at Rs 164.20 (164.92), July at Rs 164 (164.59) and August at Rs 164.30 (164.82) a kg for RSS 4 on the National Multi Commodity Exchange (NMCE).
RSS 3 (spot) dropped to Rs 153.46 (155.54) a kg at Bangkok. The April futures for RSS 3 slipped to ¥ 246 (Rs 141.18) from ¥ 246.1 during the day session but then improved to ¥ 246.5 (Rs 143.71) in the night session on the Tokyo Commodity Exchange.
Spot rubber rates (Rs/kg): RSS-4: 164 (165.50); RSS-5: 162 (164); Ungraded: 157 (159); ISNR 20: 160 (161) and Latex 60 per cent: 110 (111).
Source: Business Line
