The Hindu Business Line : Spot rubber declines

Spot market weakened on Wednesday. The market incurred all-round losses as buyers maintained a low profile following the indefinite and statewide strike by lorry operators. Still covering purchases at lower levels were reported from the main trading centres.

Sheet rubber closed at Rs 91 from Rs 92 a kg both at Kottayam and Kochi. We expect the prices to firm up once the transportation problems are over, a spokesperson from the industrial sector said.

Futures weak

On NMCE, the rubber futures declined quoting the last traded price for November contract at Rs 88 (Rs 89.74), December at Rs 82.40 (Rs 84.07), January at Rs 82.30 (Rs 83.62) and February contract at Rs 84.63 (Rs 85.87) per kg for RSS 4.

The open interest in November was 1,441 (1,610) lots, December 1,614 (1,463) lots, January 834 (805) lots and February 361 (320) lots, while the total transactions stood at 2,094 lots.

The December futures for RSS 3 closed at 211 yen (Rs 81.07) a kg against 210.6 yen a kg at TOCOM. The grade declined to Rs 80.40 from Rs 81.50 a kg at Bangkok spot.

Spot prices (Rs a kg) were: RSS-4: 91 ( 92); RSS-5: 88 (88.50); ungraded: 84 (84.50); ISNR 20: 87.50 (88) and latex 60 per cent: 61.05 (61.05).