Tuesday, September 24, 2013

Rubber declined again

Today rubber price fell again due to weakening crude oil prices and a stronger yen, which cut the appeal for the commodity. The yen climbed after Federal Reserve Bank of New York president William C Dudley said policy makers must forcefully push against economic headwinds. The contract for February delivery on the Tokyo Commodity Exchange lost as much as 2.64% to ¥276.4 a kg.

Today, at Kottayam, RSS4 grade closed at `.180 a kg. RSS3 grade closed at `.166.24 a kg at Bangkok, while Malaysian SMR20 closed at `.149.17 a kg. On the Tokyo Commodity Exchange, September futures series closed at ¥263.8 a kg, October at ¥261.8, November at ¥264.7, December at ¥269, January 2014 at ¥272.5 and the contract for delivery in February 2014 closed at ¥276.4 a kg. While on the National Multi Commodity Exchange October futures were trading at `.176.50 a kg, November at `.175.50, December at `.177.50 and January 2014 at `.179 a kg at 4.00 pm IST.

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