Physical rubber prices lost ground on Wednesday. The market surrendered further gains on buyer resistance following sharp declines on the National Multi Commodity Exhcnage. The daily reference price for RSS 4 slid to ₹130.55 (130.75) per kg, as quoted by the Rubber Board. The grade weakened to ₹126 (129), according to traders.
The January futures declined to ₹123 (124.38), February to ₹124.05 (125.80) March to 124.30 (126.11) and April to ₹127.95 (129.90) per kg on the NMCE.
RSS 3 (spot) dropped to ₹108.81 (108.95) per kg at Bangkok. The January futures weakened to ¥193.1 (₹102.45) from ¥196.1 per kg during the day session and then to ¥192 (₹101.88) per kg in the night session on Tokyo Commodity Exchange (TOCOM).
Spot rubber rates (₹/kg) were: RSS-4: 126 (129); RSS-5: 121 (122) Ungraded: 105 (110) ISNR 20: 112 (112) and Latex (60% drc): 89 (90).
– The HIndu
