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Aravindan

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Kottayam Feb. 12 A holiday in trend setting TOCOM and domestic factors such as import news and the buyer resistance from the tyre sector kept rubber under pressure on Monday.

In spot, RSS 4 declined to Rs 98 and Rs 98.50 a kg respectively at Kottayam and Kochi from Rs 99 a kg on Saturday. Moderate gains in other global markets failed to catalyse the sentiments though the indigenous rubber was sold at a discount comparing to the international level now.

Futures weak

The rubber futures slipped further on NMCE.The February contract finished trading at Rs 98.25 (99), March at Rs 100.60 (102.16), April at Rs 105.15 (106.93) and May at Rs 110 (111.95) per kg for RSS 4. The volumes totalled 2,983 (1,492) tonnes and open interest 14,791 (14,626) tonnes.

The March contract for RSS 4 was quoted weak at Rs 100.91 a kg against Rs 102.12 a kg (251tonnes) on MCX.

RSS 3 spot moved up to Rs 109.07 from Rs 107.39 a kg at Bangkok. The Japanese markets were closed on account of National Foundation Day.

Spot prices were (Rs/kg): RSS-4: 98 (99); RSS-5: 95 (95.50); ungraded: 93 (94); ISNR 20: 93.50 (94) and latex 60 per cent: 65.75 (65.75).

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