Spot rubber mixed on weak global cues on Dec. 13

KOTTAYAM, DEC 13:

Spot rubber showed a mixed mood on Thursday. The undercurrent was weak tracking the sharp declines on NMCE.

Weak global trend setters and the absence of follow up buying in leading counters kept the prices under pressure during the latter half of the session.

According to reports, India’s imports of natural rubber increased 41 per cent in November to 22,748 tonnes from a year earlier, as lower overseas prices prompted tyre makers to turn abroad.

Sheet rubber finished unchanged at Rs 164.00 a kg according to traders.

The grade slipped to Rs 163.50 (Rs 164.00) both at Kottayam and Kochi as reported by the Rubber Board. The transactions were dull.

In futures, the December series declined to Rs 162.05 (Rs 165.97), January to Rs 163.83 (Rs 168.11), February to Rs 166.20 (Rs 170.57) and March to Rs 168.51 (Rs 172.89) a kg while the May series improved marginally to Rs 174.90 (Rs 174.55) and April series remained inactive on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) increased to Rs 166.09 (Rs 165.92) a kg at Bangkok.

The December futures dropped to ¥256.4 (Rs 167.50) from ¥257.1 during the day session and then to ¥254.5 (Rs 166.26) in the night session on Tokyo Commodity Exchange (TOCOM).

The spot rubber rates Rs/kg were: RSS-4: 164.00 (164.00); RSS-5: 157.50 (158.00); Ungraded: 153.50 (154.00); ISNR 20: 153.00 (154.00) and Latex 60%: 106.00 (106.00).

Source: Business