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Aravindan

Kottayam, Sept. 26 Spot rubber declined on Wednesday. Most of the traders preferred to sell since the market ruled above the international prices and a correction was expected around these levels. RSS 4 declined to Rs 90 and Rs 90.50 from Rs 91 and Rs 91.50 a kg, respectively, at Kottayam and Kochi.

The rubber futures turned weak quoting the October contract at Rs 88.55 against Rs 90.36 a kg on MCX. On NMCE, the prices slipped below the initial daily limit of 2% and the October contract fell sharply to Rs 88.75 (91.59), November to Rs 85.37 (87.79), December to Rs 85.05 (87.92) and January to Rs 86.25 (88.42) per kg for RSS 4. Volumes totalled 2,492 tonnes (2,706). The open interest was 3,490 (3,534) lots with 1,508 (1,660) lots in October, 1,177 (1,127) lots in November, 607 (580) lots in December and 198 (167) lots in January.

The October futures for RSS 3 firmed up further to 256.5 Yen (Rs 88.61) from 254.5 Yen a kg at TOCOM. RSS 3 (spot) improved to Rs 87.30 from Rs 86.79 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 90 (91); RSS-5: 87 (88); ungraded: 85 (86); ISNR 20: 86 (87) and latex 60%: 62.10 (62.10).

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