India: Buyer resistance, profit booking sap rubber

KOTTAYAM, FEBRUARY 19:  

Physical rubber prices lost ground on Wednesday.

The uptrend lost its steam on buyer resistance coupled with profit booking at higher levels though there were no genuine and quantity sellers in the local trading houses.

Sheet rubber declined to Rs152 (Rs155) according to traders.

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The grade dropped to Rs152.50 (Rs155) and Rs159.50 (Rs152) respectively as reported by the Rubber Board and dealers. The March futures closed at Rs152.60 (Rs152.69), April at Rs157.01 (Rs156.89), May at Rs159.55 (Rs159.35) and June at Rs160.52 (Rs162.14) on the National Multi Commodity Exchange.

RSS 3 (spot) improved to Rs139.53 (Rs138.58) at Bangkok. The February futures closed at ¥228.6 (Rs139.30) on Tokyo Commodity Exchange.

Spot rubber rates Rs/kg: RSS-4: 152 (155); RSS-5: 150 (152); Ungraded: 148 (149); ISNR 20: 150.50 (151) and Latex 60%: 122 (122).

The Hindu