The Hindu Business Line : Spot rubber prices decline

The rubber rates declined again recording moderate losses in all grades. On the physical front sheet rubber moved down to Rs 89 and Rs 89.50 a kg from Rs 90 and Rs 90.50 a kg respectively at Kottayam and Kochi. There were covering buyers at lower levels but their volumes were low.

The prices declined lacking support from major consuming sectors though widespread rains were reported from major plantation areas. The international indices were also in the negative zone.

Futures mixed

The rubber futures showed a mixed trend on NMCE. Traders seemed more cautious in the absence of TOCOM guidance as the trend-setter remained closed on Friday. The November contract finished at Rs 89.45 (Rs 88.17), December at Rs 82.90 (Rs 82.63), January at Rs 82.20 (Rs 82.48) and February at Rs 84.00 (Rs 84.41) per kg for RSS 4. The trading volumes totalled 1,080 tonnes.

The open interest in November stood at 1489 (1528) lots, December 1822 (1748) lots, January 962 (937) lots and February 383 (386) lots.

RSS 3 (spot) moved down to Rs 78.93 from Rs 79.67 a kg at Bangkok.

Spot prices (Rs a kg) were: RSS-4: 89 (Rs 90.00); RSS-5: 87 (Rs 88); ungraded: 83 (Rs 83.50); ISNR 20: Rs 86.50 (Rs 87) and latex 60 per cent: Rs 60 (Rs 61.05).