Spot rubber prices dropped below the ₹120-mark on Wednesday. Sharp declines in futures and global trendsetters kept prices under pressure during the day. According to observers, there were no buyers even at lower levels and most of them expected sheet rubber to slip to ₹110 shortly. RSS 4 declined to ₹119 (₹121) a kg, according to traders. The grade weakened to ₹119.50 (₹120.50) and ₹116.50 (₹117.50) respectively, as reported by the Rubber Board and dealers. November futures surrendered to ₹118.90 (₹121.26), December to ₹116.50 (₹119.28) and January to ₹116.97 (₹119.71) on the National Multi Commodity Exchange. RSS 3 (spot) weakened to ₹101.02 (₹104.04) at Bangkok. November futures closed at ¥183.9 (₹98.70) on the Tokyo Commodity Exchange. Spot rubber rates (₹/ kg) were: RSS-4: 119 (121); RSS-5: 112 (115.50); Ungraded: 107 (110); ISNR 20: 108 (109.50) and Latex (60% drc): 78 (78).
– The Hindu
