The Hindu Business Line : Rubber dips further

DOMESTIC spot rubber suffered further losses on Saturday. The weekend session witnessed another selling spree from traders and growers as most of the participants expect the market to seek further lows in the days ahead.

Sheet rubber RSS 4 declined sharply to Rs 63 a kg from Rs 64.25 on Friday. Arrivals to the main marketing centres improved amid favourable weather reports.

NMCE rubber futures closed slightly better possibly on short covering at lower levels. The December contract closed at Rs 63.60 (63.59), January at Rs 64.20 (63.98), February at Rs 65.17 (64.87) and March contract at Rs 65.50 (65.20) per kg for RSS 4.

The transactions were quoted at 994 lots, with 741 lots in November, 197 lots in December, 37 lots in January and 19 lots in February.

The December delivery contract for RSS 4 ended weak at Rs 63.65 against Rs 63.83 a kg, registering 26 lots on MCX.

Spot rubber a kg were: RSS-4: Rs 63 (64.25); RSS-5: Rs 61 (62);

ungraded: Rs 58.25 (59); ISNR 20: Rs 62.25 (62.50); and latex 60 per cent: Rs 43.50 (44).

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