The Hindu Business Line : Rubber prices plummet further

PHYSICAL rubber prices touched further lows on Friday. Dealers continued to sell rubber in an effort to reduce stocks held at the end of the financial year.

Bargain hunting at lower levels seemed to be absorbing the selling as the covering groups turned active to fulfil their commitments.

RSS 4 moved down to Rs 51 from Rs 51.50 at Kochi and to Rs 51.50 from Rs 51.75 a kg at Kottayam.

The NMCE rubber futures continued to stay in the bear orbit on fresh selling from traders. The February contract was quoted at Rs 50 (50.98), March contract at Rs 51.51 (52.10), April contract at Rs 54.85 (55.70) and May contract at Rs 56.49 (57.00) per kg for RSS 4.

At Bangkok, RSS 3 improved to Rs 55.37 from Rs 55.03 a kg on Thursday. TOCOM remained closed on account of National Foundation Day.

Spot rubber rates per kg were: RSS 4: 51.00 (51.50), RSS 5: 49.50 (50.00), ungraded: 48.50 (49.00), ISNR 20: 50.25 (50.50) and latex 60%: 38.50 (38.50)

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