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Aravindan

Kottayam March 29 Physical rubber prices turned weak on Thursday. The financial year closing has cast its shadow over the market activities draining the volumes, sources said. The overseas signals were also discouraging. Sheet rubber slipped to Rs 93.50 and Rs 93.75 respectively at Kottayam and Kochi from Rs 94 a kg on Wednesday. The trend was mixed.

Futures decline

The rubber futures declined further in tune with domestic fundamentals and global sentiments. The April contract for RSS 4 weakened to Rs 91.40 from Rs 92.44 a kg on MCX.

On NMCE, the April contract for the grade was traded at Rs 91.31 (93.24), May at Rs 95.05 (96.80), June at Rs 98 (99.76) and July at Rs 99.28 (101.28) per kg for RSS 4.

The open interest was 12,256 (12,310) lots with 4568 lots in April, 5268 lots in May, 1967 lots in June and 453 lots in July. The volumes totalled 2,401 (1,674) lots.

RSS 3 moved down at its April futures to 269.6 Yen (Rs 99.82) from 271.6 Yen a kg at TOCOM. The grade (spot) lost by 23 paise to Rs 99.13 a kg at Bangkok.

Spot rubber prices were (Rs/kg): RSS-4: 93.50 (94); RSS-5: 92.50 (93); ungraded: 91.50 (92); ISNR 20: 92.50 (92.50) and latex 60 per cent: 64.20 (64.20).

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