Transport stir pulls down spot rubber

Print this page Posted on : 10-23-2007 by recycleinme.com

The rubber market remained under pressure as the Statewide lorry strike continued for the fourth day on Monday. An all round decline in global futures especially TOCOM which reacted closely to yen strength in exchange markets adversely influenced the trader’s sentiments. Sheet rubber weakened to Rs.99 and Rs.99.50 a kg respectively at Kottayam and Kochi against Rs.100 a kg and the volumes were in a low key.

FUTURES DECLINE

The rubber futures declined further piercing through the initial daily downward limit of 2 per cent on NMCE. The November contract fell to Rs.99.21 (101.33), December to Rs.100.05 (102.55), January to Rs.101 (103.45) and February to Rs.102/30 (104.54) per kg for RSS 4.

Spot prices were (Rs/kg): RSS-4: 99 (100); RSS-5: 97.50(98); ungraded: 94.50 (95); ISNR 20: 96(97) and latex 60 per cent: 63.50 (64.20).

Source : Business Line