Market on Aug 10: Rubber skids as buyers keep off from market

KOTTAYAM, AUG. 10:

Spot rubber ended weak on Friday.

The market retreated further on buyer resistance and according to sources, there were no buyers for any grade even at lower levels. Marginal recovery in the current month in the domestic futures helped the commodity to sustain at the prevailing levels during late trading hours.

Sheet rubber declined to Rs 174 from Rs 175.50 and Rs 176 a kg, respectively, according to traders and the Rubber Board.

Meanwhile, major international markets remained cautious as China is scheduled to report its July trade data on Friday and commodity imports are expected to decline for the second consecutive month.

In the futures market, August contracts improved to Rs 176 (173.54), while September contracts weakened to Rs 166.80 (167.64), October to Rs 166.45 (167.47), November to Rs 165 (167.18) and December to Rs 167.40 (172.54) a kg on the National Multi Commodity Exchange.

RSS 3 (spot) closed at Rs 157.33 (156.44) a kg at Bangkok. The August futures increased to ¥211 (Rs 148.72) from ¥208.5 a kg during the day session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 174 (175.50); RSS-5: 167 (168); ungraded: 160 (162); ISNR 20: 156 (158) and latex 60 per cent: 116.50 (118).

Source: http://www.thehindubusinessline.com/markets/commodities/article3750829.ece