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Aravindan

Kottayam , Aug 30

Spot rubber declined on Wednesday. A sharp fall in Bangkok spot by Rs 3.67 to Rs 93.62 (Rs 97.29) a kg for RSS 3 hammered the domestic prices amidst sustained buyer resistance. Major manufactures continued to procure sheet rubber at lower levels.

RSS 4 moved down to Rs 87 and Rs 87.50 a kg respectively at Kottayam and Kochi from Rs 88 a kg on Tuesday. According to sources, the grade is expected to hit Rs 80 a kg in the succeeding weeks.

Futures weak

The NMCE rubber futures lost further on fresh selling as the international markets were disappointing. The near month September contract was quoted at Rs 87.71 (Rs 88.66), October contract at Rs 84.15 (Rs 85.47), November contract at Rs 84.02 (Rs 85.51) and December contract at Rs 84.15 (Rs 86.01) per kg for RSS 4.

The September futures for RSS 3 weakened to 231.3 Yen (Rs 91.96) from 232.5 Yen a kg at TOCOM.

Rates (Rs a kg) were: RSS-4: Rs 87 (Rs 88); RSS-5: Rs 85 (Rs 86); ungraded: Rs 83 (Rs 83); ISNR 20: Rs 84.50 (Rs 85) and latex 60 per cent: Rs 70 (Rs 70.50).

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