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Aravindan

Kottayam, Sept. 6 Spot rubber lost its grip on Thursday. Prices moved down in tune with a weak closing in Japanese futures though there was not any significant selling pressure from dealers or growers. Sheet rubber settled marginally down at Rs 88.25 and Rs 88 a kg respectively at Kottayam and Kochi against Rs 88.50 on buyer resistance. Covering groups were reluctant to enlarge their commitments since genuine consumer support has been negligible. The market made all round losses on brisk trading.

The rubber futures weakened absorbing the overall sentiments even amidst declining domestic supplies. The September contract moved down to Rs 86.71 (87.01) a kg on MCX. On NMCE, the September contract slipped to Rs 88.34 (88.76), October to Rs 83.55 (83.96), November to Rs 81.45 (81.87) and December to Rs 81.13 (81.29) per kg for RSS 4.

Spot prices were (Rs/kg): RSS-4: 88.25 (88.50); RSS-5: 85.50 (86.50); ungraded: 82 (83); ISNR 20: 85 (85.50) and latex 60 per cent: 61.55 (62.60).

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