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Aravindan

Kottayam April 17 The domestic rubber prices nose-dived on Tuesday. Though the Government has denied news about the import of rubber, it seems that the market lost its grip once again since the conflicting reports appearing in various newspapers had affected the traders' confidence.

On the physical front, sheet rubber moved down to Rs 89 a kg from Rs 91 and Rs 91.25 a kg respectively at Kottayam and Kochi. The market recorded all-round losses on buyer resistance amidst moderate selling from dealers and growers. According to sources, there were also indications of over speculation in the domestic markets.

Futures weak

The rubber futures made heavy losses on NMCE. The May contract fell to Rs 88.30 (93), June to Rs 90.52 (96), July to Rs 93.70 (98.75) and August contract to Rs 93 (98.40) per kg for RSS 4.The volumes totalled 2,812 (1,126) tonnes. The grade finished sharply down at Rs 89.50 a kg against Rs 93.37 at its May contract on MCX. The May futures for RSS 3 slipped marginally to 286.8 Yen (Rs 100.33) from 287 Yen a kg at TOCOM.

Physical rubber prices were (Rs/kg): RSS-4: 89 (91); RSS-5: 88 (90); ungraded: 87 (89); ISNR 20: 88.25 (90) and latex 60 per cent: 64.20 (64.20).

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