Spot rubber weakened on Tuesday. Unless the rubber with dealers is not cleared, there may not be a recovery in the market. Dealers continue to hold stocks with them and they are not likely to buy rubber from growers, who are unwilling to sell below ₹171 a kg for RSS 4. Hence the stalemate continues, said market observers. The trend was mixed.
Sheet rubber slipped to ₹147 (₹147.50) a kg, according to traders. The grade declined to ₹147.50 (₹148.50) and ₹144.50 (₹145.50) respectively, according to the Rubber Board and dealers.
March futures weakened to ₹146.60 (₹147.10), April to ₹151.00 (₹151.23) and May to ₹154.10 (₹154.11) while the June and July futures remained inactive on the National Multi Commodity Exchange. RSS 3 (spot) inched up to ₹136.35 (₹136.10) at Bangkok. March futures closed at ¥228.9 (₹139.15) on the Tokyo Commodity Exchange. Spot rubber rates (₹/kg) were: RSS-4: 147 (147.50); RSS-5: 145 (146); Ungraded: 142 (142); ISNR 20: 143 (143) and Latex 60%: 118 (119).
The Hindu
