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Our Bureau

Kottayam June 8 Domestic rubber prices remained under immense pressure following the continuous bear strike in international indices.

Sheet rubber closed at Rs 84.50 and Rs 84 respectively at Kottayam and Kochi against Rs 85 a kg on Thursday. The market made all-round losses on selling from dealers and certain growers.

According to sources, major manufacturers kept their quotes much below at Rs 84 a kg to avoid fresh commitments in a declining phase, and the volumes were meagre, lacking genuine quantity buyers on any grade.

Losses in futures

The rubber futures recorded heavy losses on NMCE. The June contract nose-dived to Rs 83.80 (85.55), July contract to Rs 85.95 (87.77), August to Rs 86.11 (87.87) and September contract to Rs 84 (85.46) per kg for RSS 4.

The July contract fell to Rs 85.42 from Rs 87.50 a kg on MCX.

The per kg prices were: RSS-4 : 84.50 (85.00); RSS-5: 83.00 ( 83.25); ungraded: 81.75 (82.00); ISNR 20: 82.75 (83); latex 60%: 60 (60)

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