Kottayam: Strong yen and the corresponding weakness in oil futures hammered the international rubber prices on Monday.
RSS 3 fell sharply at its December futures to 283.7 yen (Rs 101.46) from 291.7 yen a kg incurring the maximum allowable one day loss of 8 yen while the current month November contracts nose dived by 13.6 yen to 275.6 yen (Rs 98.48) a kg at TOCOM.
The grade (spot) fell by 47 paise at Rs 101.78 a kg at Bangkok. The domestic markets were hit hardly also by the improvement in weather conditions apart from the pressure from global indices.
Sheet rubber closed at Rs 97.50 a kg against Rs 98.50 and Rs 99 a kg, respectively, at Kottayam and Kochi on buyer resistance amidst selling from traders.
Manufacturers active
Major manufacturers were active on the grade at the prevailing rate, sources confirmed. In futures, the December contract moved down to Rs 99 (Rs 100.56) a kg on MCX. On the NMCE, the November contract declined to Rs 97.49 (Rs 99.51), December to Rs 99.10 (Rs 100.55), January to Rs 100.49 (Rs 101.84) and February to Rs 101.75 (Rs 102.65) per kg for RSS 4.
Prices per kg were RSS-4 Rs 97.50 (Rs 98.50); RSS-5 Rs 95 (Rs 96); ungraded Rs 92 (Rs 93); ISNR 20 Rs 93.50 (Rs 94.50); and Latex 60% Rs 640 (Rs 64.50).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment