Date:18/08/2004 URL: http://www.thehindubusinessline.com/2004/08/18/stories/2004081800721200.htm

Back Rubber prices continue to dip

Our Correspondent

Kottayam , Aug. 17

SPOT rubber prices continued to decline on strong buyer resistance.

According to sources, the decline is also attributed to the proposed truckers' strike on August 21. In view of the strike, major traders are not procuring as they cannot send the consignments to their clients. RSS 4 weakened to Rs 54 from Rs 54.50 on Monday.

Rubber futures stayed in tune with the international markets, which closed lower on Tuesday. The near month September delivery was quoted at Rs 51.69 (51.97),October delivery at Rs 50.70 (51.05),November delivery at Rs 50.50 (50.95) and December delivery at Rs 50.42(50.66) per kg for RSS 4.

The TOCOM September futures for RSS 3 closed at 135.3 yen against 137.5 Yen a kg. At Bangkok, the same grade declined to Rs 57.72 from Rs 58.33 on Monday.

Spot market rates per kg were as follows: RSS 4 54 (54.50); RSS 5 52 (52); ungraded 50 (50.50); ISNR 20 50.25 (51); latex 60 per cent 37.50 (38).