The Hindu Business Line : Further dip in rubber prices

At TOCOM, the September futures for RSS 3 lost almost 5 yen in the initial hours of the trading but recovered to 188.9 yen against 187.9 yen a kg just before closing.

This late recovery inspired sellers to withdraw from the market triggering some fresh buying and short covering at lower levels. RSS 4 closed at Rs 65.50 in Kottayam and Kochi.

After a weak start, the NMCE rubber futures firmed up marginally with moderate volumes. The August contract was quoted at Rs 66.70 (Rs 66.66), September at Rs 63.68 (Rs 63.34), October at Rs 61.49 (Rs 61.01) and November contract at Rs 61.21 (Rs 60.13) per kg for RSS 4. The transactions improved to 3,247 lots with 1,061 in August, 1,942 in September, 167 in October and 77 in November up to 1:30 p.m.

The spot rubber prices (per kg) were as follows: RSS-4: Rs 65 (Rs 66.50); RSS-5: Rs 62 (Rs 62); ungraded: Rs 58 (Rs 59); ISNR 20: Rs 57.50 (Rs 58), and Latex 60 per cent: Rs 40.50 (Rs 40.50).

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