Spot rubber turns weak

On Monday, the spot rubber rates turned weak. A bearish mood in the domestic and international rubber futures weighed on the sentiments during the day. Sheet rubber dropped to Rs 102 (102.50) a kg on buyer resistance The trend was mixed as ISNR 20 and Latex 60 per cent finished flat with dull volumes

The September futures for RSS 4 ended at Rs 102.21 (104), October at Rs 101.10 (102.16), November at Rs 99.80 (101.09) and December at Rs 100.89 a kg on National Multi Commodity Exchange (NMCE). RSS 3 declined sharply at its August futures to Yen 195.2 (Yen 204.5) (Rs 101.10), September to Yen 189.2 (Yen 200.6), October to Yen 188.3 (Yen 201.2), November to Yen 190.9 (Yen 203.2), December to Yen 193.2 (Yen 205.5) and January to Yen 195.6 (Yen 208.1) a kg during the day session on TOCOM. The September futures for the grade finished at Yen 187.1, October at Yen 187, November at Yen 189.2, December at Yen 191.4 and January at Yen 193.5 a kg while the August futures remained inactive during the night session. RSS 3 slipped to Rs 99.42 (101.12) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) improved to Rs 100.49 (100.08) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 102 (102.50); RSS-5: 100 (100.50); ungraded: 98 (99); ISNR 20: 94.50 (94.50) and latex 60 per cent: 79 (79).