Our Correspondent

Kottayam, Dec. 14

FOLLOWING another sharp decline in the overseas indices, domestic spot rubber prices surrendered further on Wednesday.

Profit booking and speculative selling depressed the market sentiments amidst moderate improvement in arrivals. According to sources, the tyre sector remained active in the main marketing centres, while covering groups and purchase agents were buyers at lower levels. NMCE rubber futures January contract ended at Rs 69.25 (Rs 70.26), February contract at Rs 70.80 (Rs 71.61) and March contract at Rs 71.57 (72.44) a kg for RSS 4. The January contract for RSS 4 was quoted at Rs 70.00 against Rs 70.68 a kg on MCX.

RSS 3 moved down to Rs 78.74 from Rs 79.41 a kg at Bangkok. The January futures fell to 199.8 yen from 208.8 yen a kg at TOCOM.

The spot rubber prices per kg were: - RSS-4: 69.00 (69.50); RSS-5: 67.00 (67.75); ungraded: 66.00 (66.00); ISNR 20: 67.25 (67.50); and latex 60%: 49.00 (49.00)

(This article was published in the Business Line print edition dated December 15, 2005)
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