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Aravindan

Kottayam, Nov. 19 Domestic rubber prices nosedived on Wednesday. The market remained under pressure as the major consuming industries kept their quotes much lower than Tuesday’s closing levels, sources said. They even withdrew from the market during the afternoon session as trend setting global indices finished in red. RSS 4 declined sharply to Rs 70 from Rs 75.5 a kg while more and more growers and dealers joined the sellers queue. The volumes were better.

Rubber futures on the Tokyo Commodity Exchange fell deeper into minus territory on Wednesday afternoon. The futures were mixed at the opening but sellers dominated the market from late morning to afternoon. The December futures was the sole gainer on early trades, but the contract also slipped into negative zone in the afternoon. RSS 3 declined further at its November contract to ¥149 (Rs 76.77) from ¥156.2, December to ¥147.5 (157.3), January to ¥149.6 (161.5), February to ¥151.5 (164.9), March to ¥155.4 (166.6) and April to ¥157.4 (168.5) a kg at TOCOM. But it (spot) firmed up marginally to Rs 88.81 (88.62) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 70 (75.50); RSS-5: 68 (73.50); ungraded: 64 (69.50); ISNR 20: 68 (74) and latex 60 per cent: 56 (56.50).

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