Aravindan

Kottayam, Aug 29

Rubber declined on fresh selling from dealers and growers on Tuesday. Domestic prices recorded moderate losses amidst buyer resistance as TOCOM lost heavily on long liquidation inspired from the bear hammering in gold and oil counters coupled with a steep decline in Singapore rubber market. All major overseas indices finished lower on Tuesday

RSS 4 closed at Rs 88 a kg against Rs 89 a kg at Kottayam and Kochi. Certain major manufacturers bought sheet rubber at quoted level but they preferred to keep a low profile expecting further slip in prices.

Futures weak

The rubber futures followed suit on NMCE with a slight improvement in volumes. The September contract was quoted at Rs 88.50 (Rs 89.42), October at Rs 85.65 (Rs 86.36), November at Rs 85.85 (Rs 85.85) and December contract at Rs 86.05 (Rs 86.21) per kg for RSS 4.

Prices (Rs a kg) were: RSS-4: Rs 88 (Rs 89.50); RSS-5: Rs 86 (Rs 87); ungraded: Rs 83 (Rs 84); ISNR 20: Rs 85 (Rs 87) and Latex 60 per cent: Rs 70.50 (Rs 72.09).

(This article was published in the Business Line print edition dated August 30, 2006)
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