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Aravindan

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Kottayam Feb. 26 A steady trend was witnessed in spot rubber prices on Monday. But sheet rubber declined to Rs 96 a kg from Rs 96.50 at Kottayam and Kochi on buyer resistance. The rest were unchanged, while the market activities were narrow. There was no selling or buying pressure in the main trade centres.

"We expect the raw material to remain sluggish till the financial year-end due to so many fundamental and technical factors," an analyst said. The market carries excess stocks also. Still the prices are expected to strengthen since April, he added.

Futures weak

The rubber futures continued to rule weak though the international prices were in an uptrend. On NMCE, the March contract declined to Rs 95.52 (97), April to Rs 101.19 (102.54), the most active May contract to Rs 106.01(107.13) and June to Rs 109.50 (110.35) a kg for RSS 4. The March contract for RSS 4 fell to Rs95.50 a kg from Rs 97.48 a kg on MCX.

The March futures for RSS 3 improved to 277.20 Yen (Rs 101.35) a kg from 271.30 Yen at TOCOM. The grade finished flat at Rs 106.86 a kg at Bangkok spot.

Spot prices were (Rs/kg): RSS-4: 96 (96.50); RSS-5: 94 (94); Ungraded: 92 (92); ISNR 20: 92 (92) and latex 60 per cent: 64.20 (64.20).

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