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Aravindan

Kottayam May 29 The rubber market continued to shed the gains on Tuesday. The mood was dampened as TOCOM extended Monday's losses riding on weak sentiments amidst bull liquidation. On the physical front, RSS 4 declined to Rs 88 and Rs 87.75 a kg respectively at Kottayam and Kochi from Rs 90 a kg on buyer resistance. Certain major manufacturers were buyers on the grade at the quoted levels, sources said. The market registered all round losses, while domestic futures also catalysed the fall.

Futures weak

The rubber futures stayed in tune quoting the June contract for RSS 4 at Rs 88.10 (88.44), July at Rs 88.90 (89.47), August at Rs 88.25 (88.83) and September contract at Rs 86 (86) per kg on NMCE. The June contract for RSS 4 moved down to Rs 87.50 (88.28) a kg on MCX. The markets regained the early losses partially towards close possibly on short covering.

Spot prices were (Rs/kg): RSS-4: 88 (90); RSS-5: 87 (89); ungraded: 86 (88); ISNR 20: 87.25 (89) and latex 60 per cent: 62.60 (63.65).

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