Spot Rubber Fell With Weak Futures (25-Feb-2010)
The physical rubber prices fell on Wednesday. The prices tumbled due to the weakness in domestic and international futures and profit booking from dealers that kept the market under pressure on late trades. The sheet rubber slipped from Rs 142 a kg to Rs 141 on buyer resistance. Meanwhile, there were some rumours that certain leading manufacturers were buyers on the grade even above the quoted level during the closing hours on Tuesday.
On the National Multi Commodity Exchange (NMCE), the RSS 4 fell at its March futures to Rs 140.50 (143.08) as well as April to Rs 144.86 (147.42), May to Rs 147.55 (150.29) and June to Rs 149.66 (152.45) a kg for.
Moreover, during the day session on Tokyo Commodity Exchange (TOCOM), the March futures closed at ¥289.2 (¥289) (Rs 148.89) followed by April at ¥291.3 (¥291.6), May at ¥295.1 (¥294.8) and June at ¥297.6 (297.1) a kg for RSS 3.
While, on Singapore Commodity Exchange (SICOM), RSS 3 rose to Rs 150.08 (148.62) a kg. The grade closed at Rs 149.58 (149.52) a kg at Bangkok.
The spot prices were (Rs/kg): RSS-4: 141 (142) followed by RSS-5: 138 (138.50); ungraded: 136 (136.50); ISNR 20: 136 (136.50) and latex 60 per cent: 91 (91).
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