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Aravindan

Kottayam June 15 Physical rubber prices resumed the downward journey on Friday. The market reacted favourably to the declines in Japanese markets, which lost ground when gold and oil futures ran out of steam wiping out the initial gains on late trading. Selling from dealers kept the domestic prices under pressure especially during the second half of the session. Sheet rubber declined to Rs 81 and Rs 80.50 a kg respectively at Kottayam and Kochi from Rs 82 a kg on buyer resistance.

Futures weak

The futures market moved down trading the July contract for RSS 4 at Rs 82.90 against Rs 84.66 a kg on MCX. The June delivery contract for the grade expired slightly better at Rs 82.62 against Rs 82.28 a kg, while the near month July contract weakened further to Rs 82.46 (84.42), August to Rs 83.60 (85.49) and September contract to Rs 82.45 (84.35) per kg on NMCE. The volumes improved to 2,585 (1,949) tonnes. Spot prices were (Rs/kg): RSS-4: 81 (82); RSS-5: 79.50 (81); ungraded: 78 (79.50); ISNR 20: 79.25 (80.50) and latex 60 per cent: 60 (60).

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