The rubber prices continued to rule weak on Monday. Declines in international market hammered the domestic sentiments anr RSS 4 moved down to Rs. 123 from 125 a kg on week end. The domestic rubber prices ruled steady on Saturday. The market is moving towards lower levels prior to the peak production season. The Japanese rubber futures were under pressure, prices continued to fall.
Rubber futures in Tokyo commodity exchange fell more than one percent to a sixth month low on today, as bearish sentiments carried over from last week when prices fell on worries about weakening demand.
Asian physical rubber prices fell on Monday, pushed lower by a decline in Tokyo futures. Traders said the market was likely to be quiet this week as Chinese financial markets will be closed from September 29 to October 3 for the national day holiday.
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 270 yen per kilogram, 6.4 yen down.
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