Date:08/08/2006 URL: http://www.thehindubusinessline.com/2006/08/08/stories/2006080803330800.htm

Back Spot rubber prices decline

Aravindan

Kottayam, Aug 7

Spot rubber prices declined on Monday. The domestic market inherited the weakness from the falling overseas indices especially TOCOM which lost on heavy long liquidation and speculative selling in all contracts.

Sheet rubber settled down at Rs 92 against Rs 94 a kg lacking enough support from major manufacturers. The market circles also seem to expect an improvement in production due to a favourable change in weather.

Futures weak

The rubber futures recorded moderate losses on NMCE. The August contract was traded at Rs 92.06 (Rs 93.72), September at Rs 88.10 (Rs 89.82), October contract at Rs 87.45 (Rs 88.46) and November at Rs 87.99 (Rs 88.32) per kg for RSS 4. Physical prices (Rs a kg) were: RSS-4: Rs 92 (Rs 94); RSS-5: Rs 90 (Rs 92); ungraded: Rs 87 (Rs 89); ISNR 20: Rs 90 (Rs 91) and latex 60 per cent: Rs 73.67 (Rs 74.72).