KOTTAYAM, APRIL 18:
Physical rubber prices continued to remain under pressure on Thursday.
Sharp declines in the international markets and the absence of genuine buyers dampened the sentiments further despite a better closing on the NMCE.
A seasonal pick-up in the rubber production in Thailand, the world’s leading producer might be one of the fundamental reasons for the global meltdown, analysts said.
Sheet rubber weakened to Rs 159 a kg both at Kottayam and Kochi from Rs 160 and Rs 161 a kg respectively, according to traders and the Rubber Board.
The May series improved to Rs 157.54 (155.78), June to Rs 157.43 (155.42), July to Rs 157.20 (155.76) and August to Rs 155.62 (153.50) on the National Multi Commodity Exchange (NMCE).
RSS 3 (spot) declined to Rs 148.71 (153.88) a kg at Bangkok. The April futures dropped ¥233 (Rs 127.91) from ¥239.1 during the day session but then bounced back to ¥240.2 (Rs 131.89) in the night session on the Tokyo Commodity Exchange.
Spot rubber rates (Rs/kg): RSS-4: 159 (160); RSS-5: 155 (157); Ungraded: 149 (151); ISNR 20: 147 (149) and Latex 60 per cent: 105 (106).
Source: Business Line
