Date:12/01/2005 URL: http://www.thehindubusinessline.com/2005/01/12/stories/2005011201131000.htm

Back Rubber prices under pressure

Our Correspondent

Kottayam , Jan. 11

RUBBER prices continued to remain under pressure on lack of support from major manufacturers amidst selling from traders and growers.

The NMCE futures continued to remain weak except for its delivery month January, which was quoted at Rs 52.85 against Rs 52.52 a kg on covering purchases. The February contract was quoted at Rs 53.68 (54.91), March at Rs 54.61 (55.07) and April at Rs 56.60 (56.59) per kg for RSS 4.

According to Mr Anand, a spokesperson from Geojit, the market appeared blindly following the weak international markets with low volumes.

At Bangkok RSS 3 was steady at Rs 51.52 .

The February futures at TOCOM for the same grade closed at 122.7 yen against 124.8 yen a kg on Friday.

The Tuesday spot rubber rates were: RSS-4: 52.50 (53.25), RSS-5: 51.50 (52), ungraded: 50 (50.50), ISNR 20: 51.25 (52.25) and latex 60 per cent: 40(41).