Rubber Falls On Buyer Resistance

Kottayam: Spot rubber surrendered further on purchaser resistance ignoring the positive closing in global trendsetters. Sheet rubber RSS 4 declined to Rs 92 from Rs 93 a kg both at Kottayam and Kochi amidst moderate selling from traders. The April contract for the grade declined to Rs 91.60 (92.66), May contract to Rs 94.25 (95.30), June to Rs 97.61 (99.31) and July to Rs 100.01 (100.97) a kg on National Multi-Commodity Exchange. The open interest on NMCE was quoted at 12,947 (12,962) lots with 3,298 lots in April, 5,570 lots in May, 3,328 lots in June and 751 lots in July. The May futures for RSS 3 increased to 285.5 Yen (Rs 102.64) from 281.8 Yen a kg at TOCOM. RSS 3 (spot) declined by 8 paise to Rs 99.82 (99.90) a kg at Bangkok. Spot rates were (Rs/kg): RSS-4: 92 (93); RSS-5: 91 (92); Ungraded: 90 (91); ISNR 20: 91 (92) and Latex 60 per cent: 64.20 (64.20).