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Aravindan

Kottayam , July 18

The rubber market declined sharply on Tuesday. The fall was led by heavy long liquidation and bear hammering in major international markets. Sheet rubber moved down to Rs 97.50 and Rs 98.25 respectively at Kottayam and Kochi from Rs 100.00 a kg on Monday.

All major grades and latex lost amidst moderate selling from dealers and growers lacking buyers even at lower levels. The market is technically weak so that sheet rubber might touch even Rs 95 level shortly, traders said.

Futures weak

The rubber futures also lost heavily on NMCE. The August contract was quoted at Rs 96.10 (Rs 99.11), September at Rs 92.75 (Rs 97.05), October at Rs 90.50 (Rs 93.97) and November at Rs 88.40 (Rs 90.93) per kg for RSS 4. Spot prices (Rs a kg) were: RSS-4: Rs 97.50 (Rs 100); RSS-5: Rs 96.00 (Rs 97.50); ungraded: Rs 94.00 (Rs 96); ISNR 20: Rs 96.50 (Rs 97) and latex 60 per cent: Rs 78.95 (Rs 79.45).

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