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Our Correspondent

Kottayam , Sept. 13

HECTIC selling from traders and small growers pushed down the spot rubber prices to further lows on Monday. The continuous absence of major manufacturers made the market operators panic.

The exporters were also not active as expected though the difference between the domestic and international markets was almost Rs 7 a kg. All the grades except latex declined and Sheet rubber RSS 4 closed at Rs 49.50 a kg against Rs 50.50 on Saturday.

The futures market followed suit quoting the September delivery at Rs 52.05 (Rs 52.01) a kg on Monday. The near month October delivery was quoted at Rs 50.20 (Rs 51.05), November delivery at Rs 50.39 (Rs 50.88) and December delivery at Rs 50.36 (Rs 50.93) per kg for RSS 4. The market appeared to be in a sellers mode with moderate volumes.

At Bangkok RSS 3 closed steady at Rs 56.61 and the TOCOM September futures for the same grade weakened to 138 yen from 138.6 Yen a kg on Friday.

The Monday spot market rates per kg were as follows: RSS 4 - Rs 49.50 (Rs 50.50), RSS 5 - Rs 48.00 (Rs 49.50), Ungraded - Rs 46.50 (Rs 47.00), ISNR 20 - Rs 46.50 (Rs 47.50) and Latex 60% - Rs 37.00 (Rs 36.50).

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