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Aravindan

Kottayam , Nov. 14

Spot rubber lost heavily on Tuesday. Prices fell freely in the absence of genuine buyers and it was even difficult to get buyer's quotations in most of the grades including latex. Sharp declines in TOCOM followed by long liquidation reacting to losses in precious metals and oil futures catalysed the panic mood.

Sheet rubber closed at Rs 82 and Rs 83 a kg respectively at Kottayam and Kochi against Rs 84 a kg on moderate selling pressure from dealers and growers who still held the stocks. We are expecting sheet rubber to touch Rs 60 a kg in the peak production season, a dealer said.

Futures weak

Rubber lost ground also on NMCE futures. The delivery month November concluded the session at Rs 85.05 (Rs 87.00), December at Rs 79.10 (Rs 79.96), January contract at Rs 79.95 (Rs 80.66) and February at Rs 81.26 (Rs 81.87) per kg for RSS 4.

Physical prices per kg were: RSS-4: Rs 82 (Rs 84); RSS-5: Rs 80 (Rs 82); ungraded: Rs 74.50 (Rs 77.50); ISNR 20: Rs 80(Rs 81.50) and latex 60 per cent: Rs 55.80 (Rs 57.90).

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