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Aravindan

Kottayam May 8 Spot rubber weakened on Tuesday. "It was often difficult to analyse the market behaviour'' traders said, "but looking from the physical front it could be seen that we merely followed the bearish domestic futures''.

Sheet rubber RSS 4 declined to Rs 84.75 from Rs 85.50 a kg on Monday. The volumes were low lacking quantity buyers and sellers.

Futures down

The rubber futures moved down further against the positive trend set by international indices. The May contract on NMCE settled at Rs 84 (85.26), June at Rs 85.72 (88.02), July contract at Rs 87.70 (89.92) and August at Rs 89.36 (90.89) per kg for RSS 4.

The open interest was 10,779 (10,437) tonnes with 4,981 (4,697) tonnes in May, 3,666 (3,609) tonnes in June, 1,664 (1,668) tonnes in July and 468 (463) tonnes in August. The volumes were 1,424 (832) lots.

The June contract for RSS 4 declined to Rs 86.35 from Rs 88.25 a kg on MCX.

Spot prices were (Rs/kg): RSS-4: 84.75 (85.50); RSS-5: 83.50 (84); ungraded: 82 (82.50); ISNR 20: 83.25 (83.50) and latex 60 per cent: 63.15 (63.15).

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