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Aravindan

Kottayam , Jan. 10

Spot rubber prices finished in green though panic selling at higher levels reduced the gains to a great extend on Wednesday. Rumours about a possible 10 per cent reduction on import duty for NR hit the market circles triggering a selling spree both in domestic spot and futures.

Sheet rubber closed at Rs 97 a kg against Rs 94.50 and Rs 95.50 a kg respectively at Kottayam and Kochi after touching a high at Rs 99 a kg early in the morning session.

Futures decline

Simultaneously the rubber futures declined after abetter start though the global markets were almost steady and firm. On NMCE, the January contract declined to Rs 101 (Rs 101.40), February to Rs 101.57 (Rs 103.13), March to Rs 103.81 (Rs 105.81) and April contract to Rs 106.11 (Rs 108.07) per kg for RSS 4. The February contract for the grade ended weak at Rs 102.24 against Rs 102.89 a kg on MCX.

Spot prices were (Rs/kg): RSS-4: Rs 97 (Rs 94.50); RSS-5: Rs 93 (Rs 89); ungraded: Rs 88 (Rs 86); ISNR 20: Rs 90 (Rs 87); and latex 60 per cent: Rs 65.25 (Rs 64.20).

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