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Aravindan

Kottayam, Dec. 4 The domestic spot rubber surrendered further on Thursday. The prices fell on an almost panic selling from dealers and growers following sharp declines in global indices. Sheet rubber nosedived to Rs 60 from Rs 64 a kg amidst comparatively moderate volumes.

The rubber futures on the Tokyo Commodity Exchange came under heavy selling on Thursday afternoon. The market was generally firm at the opening but prices fell deep into the minus territory on late trades followed by profit booking at possibly higher levels. The three distant contracts from March to May hit new lifetime lows as selling spread further in the afternoon. The two contracts December and January fell below the critical ¥100 levels on late trading. The December futures for RSS 3 moved down to ¥99 (Rs 53.18) from ¥107 Yen, January to ¥99.8 (108.5), February to ¥101.9 (110.6), March to ¥102.8 (111.3), April to ¥105.8 (115) and May to ¥108.3 (117.6) a kg at TOCOM. The grade’s spot declined to Rs 62.03 from Rs 65.06 a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 60 (64); RSS-5: 58 (62.50); ungraded: 55 (60); ISNR 20: 56.50 (61.50) and latex 60 per cent: 43 (46.50).

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