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Aravindan

Kottayam, Oct. 16 Rubber prices turned weak on Thursday. According to sources, the market reacted almost in tandem with the fall in global markets though there was no considerable selling pressure from dealers/growers.

Sheet rubber RSS 4 moved down to Rs 84 from Rs 86 a kg on buyer resistance. There were no fresh enquiries from the tyre sector . The Japanese rubber futures opened lower on heavy long liquidation followed by steep declines in oil and precious metals futures coupled with Yen’s rise against dollar. RSS 3 nosedived at its October contract to ¥159.7 (Rs 77.89) from ¥178, November to ¥162.1 (178.1), December to ¥161.8 (177.8), January to ¥161.5 (177.5), February to ¥160.8 (176.8) and March to ¥162.1 (178.1) a kg at TOCOM. Its spot closed weak at Rs 88.12 (89.57) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 84 (86); RSS-5: 81.50 (82); ungraded: 78 (80); ISNR 20: 79 (81) and latex 60 per cent: 67.50 (70).

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