Kottayam, March 6
Falling international markets and the fears on a possible increase in production due to widespread rains kept the spot rubber prices under pressure on Monday. The market declined further recording moderate losses in all grades.
The tyre sector continued to abstain from the market. Both at Kottayam and Kochi, sheet rubber weakened to Rs 79.50 from Rs 80 a kg on Saturday.
The rubber futures lost heavily on NMCE. The March contract was traded at Rs 78.48 (Rs 79.38), April contract at Rs 81.10 (Rs 82.33), May contract at Rs 83.50 (Rs 84.68) and June contract at Rs 85.20 (Rs 86.10) per kg for RSS 4.
The market declined reacting to the sharp correction in global futures and the news on excess stocks in the domestic warehouses, sources said.
The volumes till mid-session totalled 1,673 lots with 321 lots in March, 356 lots in April, 669 lots in May and 327 lots in June.
The April contract for RSS 4 was quoted at Rs 81.10 a kg against Rs 80.00 a kg on MCX .
The April futures for RSS 3 fell to 246 yen (Rs 93.24) from 251.7 yen a kg at TOCOM. RSS 3 closed weak at Rs 94.91 from Rs 95.08 a kg at Bangkok spot.
The spot rubber prices per kg were RSS-4: Rs 79.50 (Rs 80); RSS-5: Rs 78 (Rs 79); Ungraded: Rs 77 (Rs 78); ISNR 20: Rs 78.25 (Rs 79.25) and Latex 60% (per litre): Rs 57 (Rs 57.50).