Spot rubber turned weak on Tuesday. A sharp overnight fall in crude oil prices turned sentiments weak during the day. The commodity lost ground as major consuming industries stayed away following the plunge in the domestic stock and commodity markets. The daily reference price for RSS 4 was quoted unchanged at ₹130.75kg by the Rubber Board. The grade declined to ₹129 (130), according to traders.
January futures weakened to ₹124.40 (127.02), February to ₹125.62 (128.26) and March to ₹126 (128.50) on National Multi Commodity Exchange (NMCE).
RSS 3 (spot) closed steady at ₹108.95/kg at Bangkok. January futures dropped to ¥196.1 (₹104.66) from ¥197.2/kg during the day session and then to ¥193 (₹102.99) in the night session on Tokyo Commodity Exchange.
Spot rubber rates (₹/ kg) were: RSS-4: 129 (130); RSS-5: 122 (123); ungraded: 110(112); ISNR 20: 112 (112) and Latex (60% drc): 90 (90).
– The Hindu
