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Aravindan

Kottayam, Nov.21 The rubber prices finished weak on Friday. Negative reports from the Japanese markets and the absence of support from the domestic consuming industries were the leading factors which influenced the sentiments during the day.

RSS 4 closed at Rs 63 (65) a kg after hitting an intraday low at Rs 62 a kg on early trades following moderate selling from dealers and growers.

The rubber futures on the Tokyo Commodity Exchange came under heavy selling at the opening. Sentiments were hit badly by sharp declines in oil futures.

The losses widened further towards noon and all six contracts fell deeper into new lifetime lows. But the prices recovered in the afternoon wiping out the morning losses partially in all distant contracts from December to April on renewed buying at lower levels as oil futures began to pick up on late trading. The November contract for RSS 3 declined to ¥111.6 (Rs 58.73) from ¥127.2, December to ¥129 (131.8), January to ¥131.5 (133.6), February to ¥134.6 (135.5), March to ¥136.6 (139.4) and April to ¥138 (141.4) a kg at TOCOM. The grade moved down to Rs 82.42 (86.98) a kg at Bangkok.

Spot rubber rates a kg were: RSS-4: 63 (65); RSS-5: 60 (62.50); Ungraded: 59 (60); ISNR 20: 60 (63) and Latex 60 per cent: 53 (55).

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