| Date: |
08-04-2010 |
| Subject: |
Spot rubber slips as buyers resist |
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Kottayam, April 7 The rubber market turned weak on Wednesday. In spot, the prices slipped following the declines in futures on National Multi Commodity Exchange (NMCE). Sheet rubber moved down to Rs 159 from Rs 160 a kg on buyer resistance. There was no visible selling pressure on the grade even at higher levels though major consuming industries were inactive during the session, an observer said.
Futures slip
The April futures for RSS 4 weakened to Rs 158 (158.93), May to Rs 161.26 (162.05), June to Rs 163.05 (163.92) and July to Rs 162.25 (163.03) a kg on NMCE. RSS 3 improved with the April futures rising to ¥356.9 (¥353) (Rs 169.33), May to ¥352.8 (¥348.1), June to ¥350.1 (¥346) and July to ¥340 (¥333.4) a kg during the day session on Tokyo Commodity Exchange. RSS 3 increased to Rs 160.67 (159.97) a kg on Singapore Commodity Exchange (SICOM). It slipped to Rs 162.04 (162.97) a kg at Bangkok.
Spot prices were (Rs/kg): RSS-4: 159 (160); RSS-5: 157.50 (158); ungraded: 155 (156); ISNR 20: 157 (157) and latex 60 per cent: 101 (101).
Source : Business Line
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