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Aravindan

Kottayam , Jan. 5

Sharp declines in global rubber futures following a fall in precious metals and oil futures hammered the domestic prices on Friday. On the physical front, prices suffered all-round set back on moderate selling from traders.

Sheet rubber RSS 4 moved down to Rs 97 a kg from Rs 98 and Rs 98.50 a kg respectively at Kottayam and Kochi. The news that 40,000 tonnes of rubber would be imported during the next three months was another factor behind the bear spell.

Futures weak

The futures market crashed, shedding gains more than 4 per cent in all contracts on NMCE. The January contract fell back to Rs 96.35 (Rs 101.38), February to Rs 98 (Rs 103.54), March to Rs 100.06 (Rs 106.44) and April to Rs 102.98 (Rs 109.55) per kg for RSS 4.The January delivery contract retreated to Rs 97.65 a kg from Rs 102.86 a kg (406 lots) on MCX.

Spot prices were (Rs/kg): RSS-4: 97 (98); RSS-5: 92 (93.50); ungraded: 89 (91); ISNR 20: 90 (93) and latex 60 per cent: 66.30 (66.30).

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