Market on July 31: Mixed trend in spot rubber

KOTTAYAM, JULY 31:

Spot rubber was mixed on Tuesday. Major grades continued to remain unchanged, while ISNR 20 and latex turned weak on buyer resistance amidst scattered transactions. Sheet rubber finished unchanged at Rs 181 a kg at Kottayam and Kochi, according to traders and the Rubber Board. Volumes were poor.

August futures declined to Rs 177.90 (179.47), September to Rs 175.52 (176.50) and October to Rs 174.90 (176.23) and November to Rs 174.35 (176.29) a kg for RSS 4 on the National Multi Commodity Exchange.

The key Tokyo rubber futures edged lower as players liquidated their positions ahead of the US Federal Reserve and the European Central Bank meetings. Sentiments were weak after prices finished below the major support level of ¥225. The commodity might fall further in the absence of positive signals from the US and EU meetings, reports said.

RSS 3 (spot) closed marginally higher at Rs 168.91 (168.84) a kg at Bangkok. August futures dropped to ¥213.7 (Rs 152.01) from ¥215.6 a kg during the day session and then to ¥213.5 (Rs 151.86) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 181 (181); RSS-5: 174.50 (174.50); ungraded: 168 (168); ISNR 20: 167 (167.50) and latex 60 per cent: 126.50 (127.50).

Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article3708302.ece