Spot rubber declines

Print this page Posted on : 10-31-2007 by recycleinme.com

The domestic rubber prices weakened as the international indices fell on late trading, hammered by profit-booking coupled with short-selling at higher levels.

In the physical front, sheet rubber retreated to Rs.98 and Rs.98.50 a kg respectively at Kottayam and Kochi from Rs.99 a kg on buyer resistance. The trend was mixed. The rubber futures lost ground and closed below the initial daily lower limit of 2 per cent on NMCE. The November contract moved down to Rs.98.11 (101.01), December to Rs.98.65 (101.50), January to Rs.98.91 (101.57) and February contract to Rs.100 (102.82) a kg for RSS 4.

Spot prices were (Rs./kg): RSS-4: 98 (99); RSS-5: 95.50 (96); ungraded : 93.50 (94); ISNR 20: 94.50 (94.50) and latex 60 per cent : 63.50 (63.50).

Source : Business Line