Date:20/10/2005 URL: http://www.thehindubusinessline.com/2005/10/20/stories/2005102002361200.htm

Back Rubber dips on panic sales

Our Correspondent

Kottayam , Oct. 19

PANIC selling from dealers and growers depressed the spot rubber prices on Wednesday.

The trend was mixed as ISNR 20 and latex closed flat but firm on export enquiries. The remaining grades lost sharply probably due to the usual selling spree prior to the peak production season. Sheet rubber RSS 4 declined to Rs 66 from Rs 67 and Rs 66.75 a kg respectively at Kottayam and Kochi.

The NMCE rubber weakened following a sharp fall in TOCOM futures. The November contract was quoted at Rs 65.10 (65.42), December at Rs 64.01 (64.30), January at Rs 64.23 (64.35) and February at Rs 64.61 (64.81) per kg for RSS 4. The November contract for RSS 4 was traded at Rs 65.15 against Rs 65.59 a kg in MCX.

The November futures for RSS 3 declined to 197.5 Yen against 201 Yen a kg at TOCOM. Spot prices a kg were: RSS-4: Rs 66 (67) RSS-5: Rs 63 (64); ungraded: Rs 61 (61.50); ISNR 20: Rs 63.50 (63.50) and latex 60%: Rs 43.50 (43.50).