India: Lack of support saps spot rubber

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Physical rubber prices pared gains further on Wednesday. Declines in global rubber prices and the lack of local support kept sheet rubber under pressure during the day. The daily reference price for RSS 4 was ₹126.45 (₹127.15) a kg, as quoted by the Rubber Board. The grade weakened to ₹120 (₹122), according to traders. RSS 3 (spot) slipped to ₹105.38 (₹105.96) at Bangkok. January futures closed at ¥184.4 (₹98.13) on the Tokyo Commodity Exchange. Spot rubber rates (₹ kg) were: RSS-4: 120 (122); RSS-5: 109 (111); Ungraded: 101 (102); ISNR 20: 108 (109) and Latex (60% drc): 81 (82).

– The Hindu