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Aravindan

Kottayam April 12 Spot rubber surrendered further on buyer resistance ignoring the positive closing in global trendsetters. The market was closely reacting to the reports that a cut on import duty is on the cards, sources said. Sheet rubber RSS 4 moved down to Rs 92 from Rs 93 a kg both at Kottayam and Kochi amidst moderate selling from traders.

Futures weak

In futures, RSS 4 fell further to Rs 94.60 a kg from Rs 95.56 at its May delivery on MCX. The April contract for the grade declined to Rs 91.60 (92.66), May contract to Rs 94.25 (95.30), June to Rs 97.61 (99.31) and July to Rs 100.01 (100.97) a kg on National Multi-Commodity Exchange.

The open interest on NMCE was quoted at 12,947 (12,962) lots with 3,298 lots in April, 5,570 lots in May, 3,328 lots in June and 751 lots in July. The volumes stood at 1,930 (1,841) lots.

The May futures for RSS 3 improved to 285.5 Yen (Rs 102.64) from 281.8 Yen a kg at TOCOM. RSS 3 (spot) slipped by 8 paise to Rs 99.82 (99.90) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 92 (93); RSS-5: 91 (92); Ungraded: 90 (91); ISNR 20: 91 (92) and Latex 60 per cent: 64.20 (64.20).

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