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Our Correspondent

Kottayam, Sept. 26 The physical rubber prices suffered heavy losses on Friday. RSS 4 nosedived to Rs 125 from Rs 130 a kg as more dealers and growers joined the sellers queue even in an unhealthy market which lacked genuine consumer support.

Rumours that there would not be a re-entry by the tyre sector till the end of the month kept the traders panic through out the session. The unimpressive reports from the global scene might be another crucial factor which influenced the bearish mood rather than the domestic fundamentals, an observer said.

The Japanese rubber futures were under pressure on heavy long liquidation during early trades as a continuation of the Thursday’s negative sentiments. Prices continued to fall pushing down the November contract by ¥16 a kg to the lower daily limit on late trading.

RSS 3 declined sharply at its October futures to ¥299.3 (Rs 132.27) from ¥318.0, November to ¥290.4 (306.4), December to ¥278.6 (291.7), January to ¥275.5 (288.9), February to ¥275.7 (288.4) and March to ¥276.4 (287.2 ) a kg at TOCOM. The grade slipped to Rs 130.24 (130.71) a kg at Bangkok spot.

Spot rates (Rs a kg) were: RSS-4: 125 (130); RSS-5:123 (127.50); ungraded: 120 (126); ISNR 20: 120.50(123); and Latex 60 per cent: 77 (77).

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