KOTTAYAM, DEC 18:
Spot rubber was mixed on Tuesday. The undercurrent continued to remain weak on low demand as major consuming industries kept away from the market. Arrivals were also low, probably on expectations following recovery in the global trend.
The TOCOM rubber futures hit another seven-month high catalysed by a weak yen on growing hopes for further monetary easing in Japan. But concerns over demand from China remain as its rubber inventories are still at the highest level in more than two yeaRs
Sheet rubber declined to Rs 162 (163) a kg, according to traders. The grade dropped to Rs 162.50 (163) a kg at Kottayam and Kochi, according to Rubber Board.
The January series weakened to Rs 165.60 (166.28), February to Rs 168 (168.56), March to Rs 170.33 (171.06) and June to Rs 177.79 (183.21) a kg, while the April and May series remained inactive on the National Multi Commodity Exchange.
RSS 3 (spot) closed firm at Rs 172.17 (170.12) a kg at Bangkok. December futures dropped from ¥ 267.2 a kg to ¥269.4 (Rs176.37) a kg in the night session on Tokyo Commodity Exchange.
Physical rubber rates (Rs/kg) were: RSS-4: 162 (163); RSS-5: 156 (157);
ungraded: 151.50 (152); ISNR 20: 152 (152) and Latex 60%: 106 (106).
Source: Business Line
