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Aravindan

Kottayam, Jan. 22 Physical rubber prices fell sharply on Tuesday. The bear spell was triggered and catalysed by heavy losses in international rubber futures and domestic stock markets. Sheet rubber RSS 4 moved down to Rs 93.75 and Rs 94 a kg respectively at Kottayam and Kochi from Rs 95 a kg on Monday. The market made all-round declines on buyer resistance.

The February futures for RSS 3 nosedived to ¥268 (Rs 99.69) from ¥275.5 a kg at TOCOM. In fact, all the distant contracts hit the daily lower limit following declines in oil and gold before recovering the losses partially towards the fag end of the session. The grade closed at Rs 103.66 (103.69) a kg at Bangkok. On NMCE, the February futures weakened further to Rs 95.22 (95.79), March to Rs 97.05 (97.91), April to Rs 99.10 (100.03) and May to Rs 101.49 (102.04) per kg for RSS 4. The open interest stood at 8,125 (8,242) tonnes. Volumes improved to 1,324 (1,126) lots with 524 (464) lots in February.

Spot prices were (Rs/kg): RSS-4: 93.75 (95); RSS-5: 91.50 (92.25); ungraded: 89.75 (91); ISNR 20: 90.50 (91.50) and latex 60 per cent: 59 (60.50).

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