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Aravindan

Kottayam May 28 International and domestic rubber prices remained under pressure on Monday. According to sources, the leading Japanese markets fell on bull liquidation and bear selling at higher levels wiping out the gains in early trading. The trend was followed here both in physical and futures markets. In spot, sheet rubber declined to Rs 90 from Rs 91 a kg at Kottayam and Kochi. There has been moderate selling pressure from traders, while covering groups kept thin volumes.

Futures decline

On National Multi Commodity Exchange, the June contract fell sharply to Rs 88.50 (91.32), July contract to Rs 89.35 (92.60), August to Rs 88.65 (91.36) and September contract to Rs 86 (89.14) per kg for RSS 4. The June contract for the grade also moved down to Rs 88.50 (90.97) a kg on MCX.

Spot prices were (Rs/kg): RSS-4: 90 (91); RSS-5: 89 (90); ungraded: 88 (88.50); ISNR 20: 89 (89) and latex 60 per cent: 63.65 (64.20).

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