Physical rubber prices slipped further on Nov 18 as major consuming industries withdrew from the market letting the prices to fall freely on an almost panic selling from dealers and growers. Further, sheet rubber RSS 4 closed extremely lower at Rs 75.50 a kg against Rs 79 a kg and the market made all-round declines along with moderate volumes. A sizeable portion of the NR produced in India is consumed by the automobile industry. According to Mr Sibi J Monippally General Secretary, Indian Rubber Growers' Association, any weakness to this industry will have adverse effect to the rubber sector as a whole, said.
The November contract for RSS 3 meltdown to Yen 156.2 (Rs 80.45) from Yen 158, December to Yen 157.3 (162), January to Yen 161.5 (166), February to Yen 164.9 (169.4), March to Yen 166.6 (171.6) and April to Yen 168.5 (174.3) a kg at TOCOM. The grade (spot) closed weak at Rs 88.62 (89.85) a kg at Bangkok.Spot rates were (Rs/kg): RSS-4: 75.50 (79); RSS-5: 73.50 (76); ungraded: 69.50 (72); ISNR 20: 74 (76.50) and latex 60 per cent: 56.50 (57).
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