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Aravindan

Kottayam , Nov. 23

Despite major Japanese markets were closed on a holiday, the domestic rubber prices fell sharply on buyer resistance. According to sources traders reacted more closely to the international prices, which fell below Rs 70 levels.

Sheet rubber surrendered to Rs 77.50 and Rs 77 a kg respectively at Kottayam and Kochi from Rs 78.50 a kg on Wednesday. Major manufacturers were buyers on the grade but they kept a very low profile.

Futures dip

The futures declined further as the reports from Singapore, Malaysia and Bangkok markets were bearish. The last traded price on MCX for its December contract was Rs 74.85 (Rs 76.08) a kg for RSS 4.The volumes were 435 (561) lots.

On NMCE, the December delivery contract for the grade fell to Rs 74.90 (76.67), January to Rs 73.23 (76.20), February to Rs 74.45 (Rs 77.41) and March contract to Rs 75.68 (Rs 78.96) per kg, while the volumes were 2,745 (2,566 ) tonnes.

The per kg spot prices were: RSS-4: Rs 77.50 (Rs 78.50); RSS-5: Rs 75.50 (Rs 76); ungraded: Rs 73.50 (Rs 74); ISNR 20: Rs 75 (Rs 76) and Latex 60 per cent: Rs 48.40 (Rs 49.45).

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