Date:27/07/2004 URL: http://www.thehindubusinessline.com/2004/07/27/stories/2004072700781200.htm

Back Sharp fall in rubber prices

Our Correspondent

Kottayam , July 26

SPOT rubber market recorded sharp losses on Monday as traders and growers began to unfold their stock. Negative reports from the world markets and the absence of quantity buyers pushed down the prices, though the trading volumes were narrow.

All the grades lost as panic-like situation prevailed in the trading floors throughout the session. Sheet rubber RSS 4 closed at Rs 63 a kg against Rs 65 on Saturday.

The rubber futures weakened further on fresh selling from traders. The near-month August delivery was quoted at Rs 60.25 (Rs 60.72), September delivery at Rs 54.30 (Rs 54.74), October delivery at Rs 52.91 (Rs 53.12) and November delivery at Rs 52.60 (Rs 53.11) per kg for RSS 4.The volumes were better.

The TOCOM August futures for RSS 3 declined 133.3 yen a kg from 136.4 Yen on Friday.

The Monday spot market rates per kg were as follows: RSS 4 Rs 63.00 (Rs 64.00); RSS 5 Rs 62.00 (Rs 63.25); Ungraded Rs 59.00 (Rs 60.50); ISNR 20 Rs 56.50 (Rs 57.00); Latex 60 per cent Rs 47.50 (Rs 48.00)