The Hindu Business Line : Spot rubber prices decline

Kottayam, March 18 Physical rubber prices surrendered on Tuesday. Heavy losses in global rubber and lingering rains kept the domestic sentiments subdued and the prices declined amidst selling from dealers and growers. RSS 4 moved down to Rs 104 and Rs 104.50 a kg from Rs 105 and Rs 105 25 a kg respectively at Kottayam and Kochi. The market might remain under pressure if the weather continues to be favourable for an unexpected increase in production, sources said.

Futures weak

April futures declined further on NMCE to Rs 104.48 (105.30), May futures to Rs 106.50 (107.50), June to Rs 107.85 (109.07) and July futures to Rs 108.80 ( 109.66 ) per kg for RSS 4. The market regained the losses partially towards close following a later recovery in crude oil. The open interest stood at 4,126 (4,180) tonnes with 2,342 (2,394) tonnes in April, 1,057 (1,059) tonnes in May, 661 (686) tonnes in June and 66 (41) tonnes in July. The volumes improved to 1,239 (877) lots.

Spot prices were (Rs/kg): RSS-4: 104 (105); RSS-5: 102 (102.50); ungraded: 98.50 (100); ISNR 20: 101.50 (102) and latex 60 per cent: 70.50 (71.50).

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