Spot rubber skids on cues from futures on Oct. 15, 2012

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KOTTAYAM, OCT. 15:

prices declined sharply on Monday. Reacting closely to the heavy losses in the domestic and international futures, the local market surrendered further to register another lowest level in October.

According to analysts, the wide gap between the domestic and global rates also seemed to be putting immense pressure on the sentiments as it might pave the way to fresh imports.

Sheet rubber weakened to Rs 183 from Rs 187 and Rs.188 a kg respectively, according to traders and the Rubber Board.

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The arrivals continued to be dull.

October futures expired at Rs 180.75 (Rs 188.07) a kg, while the November series closed at Rs 181.38 (Rs 182.49); December at Rs 181.73 (Rs 181.36); January Rs 183.40 (Rs 183.43); February Rs 185.60 (Rs 185.26) and March at Rs 188.56 (Rs 191.43) a kg on the National Multi Commodity Exchange (NMCE).

RSS 3 (spot) declined to Rs 170.30 (Rs 173.62) a kg at Bangkok. October futures nosedived to ¥249.8 (Rs 168.43) from ¥257.5 a kg during the day session but then recovered partially to ¥250.8 (Rs 169.09) in the night session on the Tokyo Commodity Exchange (TOCOM).

Spot rates in Rs/kg were: RSS-4: 183 (187); RSS-5: 178 (179); Ungraded: 169 (173); ISNR 20: 164 (169) and Latex 60%: 120.50 (122).

Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/spot-rubber-skids-on-cues-from-futures/article3999866.ece

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