Date:02/02/2006 URL: http://www.thehindubusinessline.com/2006/02/02/stories/2006020201661600.htm

Back Rubber prices fall on bearish global trend

Our Correspondent

Kottayam , Feb. 1

A MUCH-AWAITED correction in international futures hammered the domestic spot rubber market on Wednesday.

Selling from dealers at higher levels kept the prices under pressure while buyers preferred to keep a low profile.

RSS 4 ended at Rs 79 a kg both at Kottayam and Kochi against Rs 80 a kg on Tuesday.

All major grades, including latex, lost on fresh offers though the arrivals continued to be low as usual.

The rubber futures also recorded heavy losses on NMCE followed by profit booking and short selling from traders.

The February contract was quoted at Rs 81 (Rs 82.21), March contract at Rs 82.98 (Rs 84.38), April contract at Rs 84.50 (Rs 86.21) and May contract at Rs 85.50 (Rs 87.09) per kg for RSS 4.

The March futures for RSS 3 fell to 248.6 yen (Rs 93.64) from 252.8 yen a kg at TOCOM.

The spot prices per kg were: RSS-4: Rs 79 (Rs 80); RSS-5: Rs 78 (Rs 79); Ungraded: Rs 77 (Rs 78); ISNR 20: Rs 77.50 (Rs 78.75); and Latex 60%: Rs 56.50 (Rs 57).