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Aravindan

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Kottayam Feb. 27 Spot rubber moved down on Tuesday. According to market circles, the trend of the day was set by Budget fears and a slip in international indices mainly TOCOM.

Sheet rubber RSS 4 moved down to Rs 95 and Rs 95.25 a kg respectively at Kottayam and Kochi from Rs 96 a kg on Monday. The market witnessed all-round declines on buyer resistance amidst moderate selling from dealers.

Futures weak

The rubber futures surrendered further on NMCE. The March contract settled down at Rs 94.30 (95.52), April at Rs 100.10 (100.96), May at Rs 105.40 (105.98) and June at Rs 108.85 (109.34) a kg for RSS 4. The turnover was 3,247 (3,487) tonnes and open interest 15,993 (15,704) tonnes.

The March contract for the grade weakened to Rs 93.88 a kg from Rs 95.79 on MCX.

At TOCOM, the March futures for RSS 3 fell to 273.5 Yen (Rs 100.63) a kg from 277.2 yen, while the same grade finished unchanged at Rs 106.86 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 95 (96); RSS-5: 93 (94); ungraded: 91 (92); ISNR 20: 90.50 (92) and latex 60 per cent: 63.15 (64.20).

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