Kottayam: Spot rubber remained under pressure following sharp declines in global futures. RSS 4 finished flat at Rs 106 a kg at Kottayam as there were no sellers in the market but the grade slipped by 50 paise from Rs 106.50 a kg to reach the same level at Kochi.
According to sources, the arrivals were too low since most of the growers held their stocks on higher expectations and the minimum target was projected at Rs 125 a kg for sheet rubber. The remaining grades including latex 60 per cent were weak on buyer resistance. The trend was mixed.
April futures dip
The April futures for RSS 3 fell to ¥278.5 (Rs 112.30) from ¥286.7 a kg at TOCOM following yen’s sharp gain against the dollar. RSS 3 spot slipped by 30 paise to Rs 113.66 a kg at Bangkok. In futures the April futures for RSS 4 declined to Rs 106.15 (106.74) a kg on MCX.
The March contract for the grade weakened to Rs 104.16 (105.05), April to Rs 105.57 (107.55), May to Rs 107.50 (109.57) and June to Rs 108.87 (110.95) per kg on NMCE. Spot prices were (Rs/kg): RSS-4: 106 (106); RSS-5: 103 (103.50); ungraded: 101 (102); ISNR 20: 102.50 (103) and latex 60 per cent: 72.50 (74).
According to sources, the arrivals were too low since most of the growers held their stocks on higher expectations and the minimum target was projected at Rs 125 a kg for sheet rubber. The remaining grades including latex 60 per cent were weak on buyer resistance. The trend was mixed.
April futures dip
The April futures for RSS 3 fell to ¥278.5 (Rs 112.30) from ¥286.7 a kg at TOCOM following yen’s sharp gain against the dollar. RSS 3 spot slipped by 30 paise to Rs 113.66 a kg at Bangkok. In futures the April futures for RSS 4 declined to Rs 106.15 (106.74) a kg on MCX.
The March contract for the grade weakened to Rs 104.16 (105.05), April to Rs 105.57 (107.55), May to Rs 107.50 (109.57) and June to Rs 108.87 (110.95) per kg on NMCE. Spot prices were (Rs/kg): RSS-4: 106 (106); RSS-5: 103 (103.50); ungraded: 101 (102); ISNR 20: 102.50 (103) and latex 60 per cent: 72.50 (74).
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