India: Buyers’ resistance saps rubber

KOTTAYAM, AUG. 13:

Domestic rubber prices turned weak on Tuesday.

Subsiding rains and the absence of genuine buyers at higher levels kept the commodity under pressure during the session.

Sheet rubber declined to Rs 195 both at Kottayam and Kochi from Rs 196 and Rs 195.50 respectively.

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August futures declined to Rs 191.55 (Rs 194.99), September to Rs 184.85 (Rs 186.36), October to Rs 175.70 (Rs 177.05on the National Multi Commodity Exchange.

RSS 3 (spot) improved to Rs 157.26 (Rs 155.58) at Bangkok.

August futures closed at ¥264 (Rs 164.71) on the Tokyo Commodity Exchange.

Spot rubber rates (Rs/kg): RSS-4: 195 (196); RSS-5: 191 (192); Ungraded: 181 (182); ISNR 20: 176 (177) and Latex 60 per cent: 164.50 (165).

Source: The Hindu