Spot rubber witnesses weak trend

Kottayam: Spot rubber turned weak on Aug 8. The prices lost in tune with fells in domestic futures. A weak closing in global futures was yet another factor which kept the prices under pressure, while the market reported all-round losses amidst low volumes. Sheet rubber declined to Rs 92.50 from Rs 93 a kg both at Kottayam and Kochi. The rubber futures declined sharply piercing via the initial daily limit of 2 per cent in the morning trade pruning the speculative gains accumulated during the past few sessions. On NMCE, the August contract declined to Rs 93.85 (94.57), September to Rs 86.35 (87.53), October to Rs 83.19 (84.43) and November contract to Rs 82.20 (82.96) per kg for RSS 4.The August contract finished weak at Rs 91.60 a kg against Rs 92.55 on MCX. Spot prices were (Rs/kg): RSS-4: 92.50 (93); RSS-5: 88.50 (90); ungraded: 86.50 (88); ISNR 20: 88.50 (90) and latex 60 per cent: 61.05 (61.05).