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Agri-Biz & Commodities - Rubber


Sluggish trend in rubber prices

Our Correspondent

Kottayam , Aug. 13

THE physical rubber market remained sluggish despite covering purchases observed at low levels. Analysts expect the prices to slide further as the impact of the decision to lift the port restriction continued to hover over the market.

Buyers were not interested in enlarging their commitments while short selling from traders put pressure on the prices creating a panic situation in the trading circles. Sheet rubber weakened to Rs 55 from Rs 55.50 on Thursday.

The rubber futures improved slightly on Friday. The August delivery was quoted at Rs 53.75 (Rs 53.75); September delivery at Rs 52.85 (Rs 52.69); October delivery at Rs 52.33 (Rs 52.18); and November delivery at Rs 52.37 (Rs 52.04) per kg for RSS 4. According to sources, the market remained firm on short covering with moderate volumes.

The TOCOM September futures for RSS 3 closed at 141.4 yen from 141.3 yen a kg on Thursday. At Bangkok, the same grade moved down to Rs 58.22 from Rs 58.35 on Wednesday.

The Friday spot market rates per kg were: RSS 4 Rs 55 (Rs 55.50); RSS 5 Rs 52.50 (Rs 53); ungraded Rs 50.50 (Rs 50.50); ISNR 20 Rs 51 (Rs 51); and latex 60 per cent Rs 39 (Rs 39).

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