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Aravindan

Kottayam , Nov. 13

An all-round weakness continued to prevail in spot rubber on Monday. The market lacked the support from major consuming industries as the subsiding north-east monsoon gave hopes on better production almost from the second half of the month.

Sheet rubber finished at Rs 84 a kg against Rs 84.50 and Rs 85 a kg respectively at Kottayam and Kochi. The extremely tight supply kept domestic price much above the global levels but an improvement in production and arrivals during the days ahead would bring it down, sources said.

Futures improve

The rubber futures improved except for its delivery month November, which was quoted at Rs 87 (Rs 88.21) a kg on NMCE. The December contract for RSS 4 finished at Rs 80.00 (Rs 79.89), January at Rs 80.90 (Rs 79.67) and February at Rs 82.00 (Rs 80.68) per kg probably on short covering and fresh buying at lower levels.

Spot prices (Rs a kg) were: RSS-4: 84 (84.50); RSS-5: 82 (83); ungraded: 77.50 (78); ISNR 20: 81.50 (83) and latex 60 per cent: 57.90 (57.90).

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