Rubber prices dropped further on Monday following a fall in domestic and global futures markets. The slide kept sentiments under pressure during late trading hours.
According to sources, there were no genuine buyers even at lower levels and the market might seek further lows in the days ahead.
Sheet rubber weakened to ₹145 (147) a kg, according to the Rubber Board. The grade declined to ₹142 (144), as quoted by the dealers.
Futures drop
June futures dropped to ₹144 (146.05), July to ₹142.30 (144.38), August to ₹140.95 (142.01), September to ₹139.01 (140.64) and October to ₹139.61 (142.70) a kg on the National Multi Commodity Exchange (NMCE). RSS 3 (spot) slipped to ₹119.42 (121.96) a kg in Bangkok. June futures declined to ¥181.00 (₹104.95) from ¥185.9 per kg in the day session, but recovered to ¥183.5 (₹106.40) per kg in the night session on the Tokyo Commodity Exchange.
Spot rubber rates (₹/kg): RSS-4: 145 (147); RSS-5: 143 (144); ungraded: 137 (139); ISNR 20:137 (138); and latex 60%: 120 (120).
– The Hindu
