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Our Correspondent

Kottayam , Jan. 28

THE Friday spot rubber market witnessed further losses in most of the grades amidst strong buyer resistance.

According to sources, dealers were in a dilemma and selling their stocks to save taxes and the market appeared to be reeling under pressure in the absence of volume buyers. It was difficult to find out buyers even at lower levels. RSS 4, the sheet rubber fell to Rs 52 at Kottayam and Rs 51.75 at Kochi from Rs 52.50 and Rs 53.00 consecutively.

The NMCE rubber turned better quoting the February contract at Rs 51.44 against Rs 50.95 a kg. The March contract was quoted at Rs 52.42 (52.10), April at Rs 55.50 (55.00) and May contract at Rs 56.74 (56.18) per kg for RSS 4. The uptrend was mainly attributed to short covering following better reports from overseas markets.

At Bangkok, RSS 3 improved further to Rs 53.18 a kg from Rs 53.01 and the March futures at TOCOM for the same grade closed at 130.5 yen from 129.2 yen a kg on Thursday.

The physical market rates per kg were: RSS4: Rs 52 (52.50); RSS5: Rs 51.25 (51.25); ungraded: Rs 49.50 (50); ISNR 20: Rs 51 (51.50); and latex 60 per cent: Rs 39 (39.50).

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