The Hindu Business Line : Selling pressure affects rubber

ANOTHER sharp fall in overseas rubber futures depressed the domestic rubber prices on Tuesday. The ongoing lorry transporters strike put further pressure on the buyers, squeezing the trading volumes to an extremely low key.

. According to sources, an improved selling pressure was observed in the main marketing centres as major operators anticipate better arrivals towards mid August.

The NMCE rubber followed suit recording moderate losses in all delivery contracts. The August contract was quoted at Rs 68.36 (69.48), September at Rs 64.62 (65.97), October at Rs 61.90 (62.37) and November at Rs 60.76 (61.41) per kg for RSS 4.

The trading volumes recorded till noon stood at 2,038 lots with 920 lots in August, 999 lots in September, 88 lots in October and 31 lots in November. According to Mr Sajilnath from Geojit, the market opened weak and lost further guided by the unexpected crash in TOCOM.

At TOCOM, the September futures for RSS 3 lost 6 yen to close at 194 yen (200 yen) while the same grade closed steady at Rs 75.92 a kg at Bangkok.

The spot rubber prices per kg were as follows: RSS-4: Rs 68.50 (69.00),

RSS-5: Rs 64.50 (65.50), ungraded: Rs 60 (61), ISNR 20: Rs 59 (59.50), and latex 60%: Rs 41 (41).

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