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Aravindan

Kottayam, Aug. 8 Spot rubber turned weak on Wednesday. The prices lost in tune with declines in domestic futures. A weak closing in global futures was yet another factor which kept the prices under pressure, while the market recorded all-round losses amidst low volumes. Sheet rubber moved down to Rs 92.50 from Rs 93 a kg both at Kottayam and Kochi. The market activities were in an extremely low key owning to the nation wide harthal, sources said.

The rubber futures fell sharply piercing through the initial daily limit of 2 per cent in the morning trade pruning the speculative gains accumulated during the past few sessions. A part of the losses has been regained on late trading followed by fresh buying and short covering.

On NMCE, the August contract moved down to Rs 93.85 (94.57), September to Rs 86.35 (87.53), October to Rs 83.19 (84.43) and November contract to Rs 82.20 (82.96) per kg for RSS 4.The August contract finished weak at Rs 91.60 a kg against Rs 92.55 on MCX.

Spot prices were (Rs/kg): RSS-4: 92.50 (93); RSS-5: 88.50 (90); ungraded: 86.50 (88); ISNR 20: 88.50 (90) and latex 60 per cent: 61.05 (61.05).

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