The Hindu Business Line : Spot rubber prices decline

Spot rubber prices declined further on Monday. According to analysts, the domestic market was following the overseas pattern. In fact, global rubber futures fell further on Monday due to pullbacks in crude oil and other commodity prices.

RSS 4 weakened to Rs 78 from Rs 79 and Rs 78.50 a kg respectively at Kottayam and Kochi. There were enquires from the non-tyre sector but the trading volumes were low as major players sidelined the market.

Futures weak

The rubber futures also showed signs of weakness on NMCE. The October contract was traded at Rs 76.10 (Rs 76.22), November contract at Rs 73.80 (Rs 74.16), December contract at Rs 73.98 (Rs 74.48) and January contract at Rs 76.10 (Rs 76.83) per kg for RSS 4.

The volumes till 2 p.m. were quoted at 500 tonnes with 221 tonnes in October, 66 tonnes in November, 157 tonnes in December and 56 tonnes in January.

The spot rubber rates per kg were: RSS-4: Rs 78 (Rs 79); RSS-5: Rs 77 (Rs 77.50); ungraded: Rs 76 (Rs 76); ISNR 20: Rs 76.50 (Rs 77) and Latex 60 per cent: Rs 61.55 (Rs 61.55).

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